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Wednesday April 06, 01:36
Prince Rainier of Monaco dead, Prince Albert to continue ruling
(by Tash Koon)
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Europe’s longest-ruling monarch Prince Rainier III of Monaco died at the age of 81.
He had been suffering bronchial and lung infection and recently was placed in intensive care at a hospital in Monaco.
During his 56-year rule Prince Rainier showed himself as powerfu and effective leader who restored Monaco’s sovereignty after years in which the principality was considered little more than a protectorate of France.
"Under Prince Rainier Monaco not only became a financial power, but expanded physically as well," said Frederic Laurent, the author of prince’s biography.
"Prince Rainier brought considerable economic development to Monaco," Laurent said. "The principality managed to recover land from the sea. And it’s become a small financial power. It’s the first economic region in the Cote d’Azur."
"People actually like to think there are these tiny places that still exist and are run in the same way they were run 700 or 1,000 years ago," said Marco Incerti, researcher at the Center for European Policy in Brussels. "It contributes to the European myth."
The Crown Prince Albert of Monaco took over his ailing father’s duties starting Thursday and now he is supposed to become the formal ruler.
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