History Of Monaco

When people think of Monaco, images of princesses, casinos and wealth spring to mind. Today, for most people, this tiny European nation is inextricably linked with the Grimaldi family and its high profile roster of royal figures. In fact, this little piece of hillside rock on the Mediterranean coast has been controlled by various kingdoms for thousands of years, yet its current rulers, the Grimaldis, have propelled Monaco to its greatest ever state of wealth and prominence. It has become a playground for the rich and famous, a tax haven for the world’s wealthiest men and proof that romantic kingdoms can still exist.

French Annexation

The ancient history of Monaco probably began with the seafaring Phoenicians, who were thought to have used the natural harbor to access this part of Europe for trade. In the 1st century AD, Marseilles annexed and Christianised the city, marking the beginning a long chain of different rulers. The 7th century saw the Lombards take control. They were replaced by the Arles in the 8th century and then the Muslim Saracens after that.

The Gimaldis

The Grimaldis from Genoa were granted control over this principality in the 13th century, when their ancestors pledged allegiance to Frederic Barbarossa, the Emperor of the West. They built a castle on the site where the royal palace sits today and began their long reign of autonomy.

Over the proceeding centuries, Monaco fell back and forth under the protection of Spain, France and Sardinia, as European wars continually altered the geopolitics of the continent. Throughout all this turmoil, Monaco remained an autonomous sovereign state and eventually fell under French protection in 1861 with the signing of the Treaty of Vienna.

Sunny place for shady people

Starting in the late 1800s, Monaco’s main source of income was from the gambling habits of wealthy men from around the world. The tiny country also set itself up as a tax haven for the rich, which has led to allegations over the years about money laundering and other illicit financial activity.

In 1956, Monaco grabbed the world’s attention with the romantic fairy tale marriage between Prince Rainier and the American movie actress Grace Kelly. In the latter half of the 20th century, Prince Rainier worked hard to diversify Monaco’s economy and develop it as an attractive destination for middle-class tourists. Rainier and Grace had a son, Albert, who assumed the reign of Monaco with the death of his father in 2005.