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HindustanTimes Mon,22 Sep 2014

World

Monaco to expand into the sea
AFP
New Delhi, April 03, 2013
First Published: 17:34 IST(3/4/2013)
Last Updated: 00:54 IST(4/4/2013)
Monaco in a day

The picturesque city state of Monaco, located on the French Riviera in Western Europe, has planned to expand its tiny territory by building a six hectare peninsula into the Mediterranean sea.

“I have decided to launch an extension into the sea to the east of the principality,” its monarch Prince Albert said recently. The affluent city-state, which is only of 2sqkm (0.8 square miles), has already extensively used land reclamation as its casinos, and its policy of no income tax on individuals has attracted the world’s wealthy. Yes, Monaco levies no income tax on individuals! Their main source of income is tourism, and every year many foreigners are attracted to its casinos and wonderful climate. Interestingly, the local citizens here are prohibited from entering these casinos.

Well, whatever be the reason — fun gambling, watching the famed Monte Carlo Rally or relaxing over it’s toothsome food, Monaco is going to be better and bigger.


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