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Monaco opts in Print
Written by Knud Jespersen, Dec 2007   

Sent by Knud Jespersen, by email

MONACO OPTS IN
I note from your last issue that Monaco remains on the OECD list as an “uncooperative” tax haven. I’m not clear what the official reaction is to this, given Prince Albert’s commitment to reform in this area. Name and address provided, Monaco

In your last issue, number 123, you say that Monaco is seeking entry to the European Parliament. Not so. You are confusing that body with the Parliamentary Assembly of the Council of Europe (PACE). 

From Riviera Reporter 124 - Dec 2007/Jan 2008 

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written by P. Middleton , 05 February 2008
You're right. The Assembly, inaugurated in 1949, is the oldest international parliamentary body. Its powers are "to investigate and recommend and advise" the governments of member states. Its recommendations on human rights have significant weight in the European political context. In this field, the assembly has heard regular criticism of the situation in Monaco. P.M.
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written by P.K.H. , 05 February 2008
The official attitude is well reflected in this statement from Etienne Franzi, President of l'Association monégasque des Activités Financières: "There are people with bad intentions who think that tax haven means haven from the law as well. We have a strict system regarding criminals. We are not worried that Monaco is on this list and this has no effect on the market." P.K.H.
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