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Monaco Government Department News 30 Nov

A meeting of the Monetary Committee between the European Union and Monaco was held this week. The meeting was chaired by Minister for Finance Jean Castellini, together with the European Union, the authorities of the banking and financial sector in France, and the European Commission. The meeting discussed Monegasque coins for 2018, the regulation of the banking system, the fight against money laundering and terrorist financing. Talks are reported to have been constructive.

Prince Albert has inaugurated the new high voltage power station in Monaco, as 30 million euros has been invested to support the economic development of the Principality over the coming decades. 63,000 volts from France are to be redistributed to half of Monegasque residents and industries. To do this, 15 kilometers of cables had to be pulled from Nice, including through old railway tunnels.

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