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Fields	World Records	World Dictionary	Geographic Names	Fields History
Chiefs of State	Intl. Organizations	Intl. Environmental Agree.	Other References	Notes and Definitions

Liechtenstein
Fuerstentum Liechtenstein

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Translation

Introduction	Liechtenstein
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Flag description:	two equal horizontal bands of blue (top) and red with a gold crown on the hoist side of the blue band
Background:	The Principality of Liechtenstein was established within the Holy Roman Empire in 1719. Occupied by both French and Russian troops during the Napoleanic wars, it became a sovereign state in 1806 and joined the Germanic Confederation in 1815. Liechtenstein became fully independent in 1866 when the Confederation dissolved. 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. In 2000, shortcomings in banking regulatory oversight resulted in concerns about the use of financial institutions for money laundering. However, Liechtenstein implemented anti-money-laundering legislation and a Mutual Legal Assistance Treaty with the US that went into effect in 2003.

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This page was last updated on 29 June, 2009

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