Monaco is a hereditary constitutional monarchy led by Prince Albert II. It was established in 1911.
Tourism drives the economy in the postage stamp-sized nation of 39,000 people. In 1962, the country’s constitution was reformed to provide independence to portions of its judicial and legislative bodies. For instance, legislative power is now shared by the prince and the National Council — a group of 24 members elected by popular vote every five years. The prince proposes laws and the National Council votes on them.
The prince also appoints a president to the seven-member Crown Council, which advises the prince on domestic and international issues, such as ratification of treaties and the granting of amnesty and citizenship.