| When Prince Albert became Monaco's Sovereign | | | | |
| two years ago he soon set a path that would | | | | Property prices in Monaco are high due to the |
| show him to be a leader among leaders for the | | | | lack of land - in the past one of the |
| environment movement. | | | | districts, Fontvieille, had much of its area |
| | | | reclaimed from the sea, but property prices |
| In an effort to encourage more people to | | | | there equal those of the better known Monte |
| leave their cars at home and use public | | | | Carlo. |
| transport - not easy in a country that has | | | | |
| the highest density of millionaire's in the | | | | One of the most popular buildings in |
| world - bus fares were cut to a Euro for a | | | | Fontvieille, Seaside Plaza, has average |
| single journey, and a year later figures show | | | | prices of three to four million Euros for a |
| bus usage has risen 17 per cent. | | | | three bedroom apartment, and a four bedroom |
| | | | four bathroom one is currently on the market |
| Prince Albert visited the North Pole last | | | | at close to ten million Euros. |
| year to publicise how the arctic regions are | | | | |
| changing with global warming, and one of his | | | | With a population of under 40,000 Monaco |
| first acts as Monaco's Sovereign was to sign | | | | could be forgiven for believing that overseas |
| the Kyoto Protocol - along with the US, | | | | embassies were an unnecessary expense. |
| Monaco was one of the few countries in the | | | | |
| world not to endorse it before Prince Albert | | | | Until now the world's second smallest country |
| put pen to paper. | | | | has been content to co-operate with French |
| | | | embassies around the world for any necessary |
| As well as the Monaco Grand Prix, the | | | | representation. |
| principality is Europe's best known tax | | | | |
| haven, with residents enjoying a zero rated | | | | But Monaco has just opened her first |
| income tax. | | | | independent embassy outside of Europe - in |
| | | | Washington D.C. |
| With property prices among the highest in the | | | | |
| world, residents of Monaco normally need to | | | | Commenting on the new embassy, one local |
| spend six months a year there to maintain | | | | Monaco travel guide says that despite the |
| residency. | | | | population equivalent of a small US town, |
| | | | environmental reasons could be behind the |
| An announcement has been made recently that a | | | | move. |
| new island is to be built off Monte Carlo, | | | | |
| and this will provide more land and property | | | | 'Forget about this being primarily for |
| in the world's second smallest country. | | | | Monegasques running into trouble in the US |
| | | | and needing assistance. We think this is more |
| Bidders for the development have been asked | | | | to do with Prince Albert wanting to influence |
| to take the environment into account - and | | | | the movers and shakers in the world as he is |
| also the Monaco Grand Prix, which suggests a | | | | very concerned about global warming and the |
| possible new route for the race. | | | | environment generally. And where better for |
| | | | that than Washington? It's Monaco's |
| Despite being one of the world's most | | | | greenhouse next to the White House.' |
| glamourous sporting events the Monaco Grand | | | | |
| Prix is notorious for a lack of overtaking | | | | The new embassy, chosen after a visit by |
| opportunities, and the new space might in | | | | Prince Albert, is in the Kalorama district of |
| time address the historical criticism of the | | | | Washington. |
| race. | | | | |