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World Factbook Dictionary |
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Explore concepts, facts, terms and phrases related to Geography with our reference work World Factbook.
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Created By: CIA - Central Intelligence Agency, USA
Submitted to the Babylon Dictionary and Translation Platform
under the title CIA World Factbook 2005
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Term of the day
Liechtenstein
Flag of Liechtenstein
Background
The Principality of Liechtenstein was established within the Holy Roman Empire in 1719; it became a sovereign state in 1806. Until the end of World War I, it was closely tied to Austria, but the economic devastation caused by that conflict forced Liechtenstein to enter into a customs and monetary union with Switzerland. Since World War II (in which Liechtenstein remained neutral), the country's low taxes have spurred outstanding economic growth. Shortcomings in banking regulatory oversight have resulted in concerns about the use of the financial institutions for money laundering. Liechtenstein has, however, implemented new anti-money-laundering legislation and recently concluded a Mutual Legal Assistance Treaty with the US.
Map of Liechtenstein
More about Liechtenstein:
Geography
People
Government
Economy
Communications
Transportation
Military
Transnational Issues
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