Category: Liechtenstein

Liechtenstein is a small principality (160 km²) located in Central Europe, between Austria and Switzerland. His government is parliamentary under a constitutional monarchy. There are 38 thousand residents (2018). The capital is Vaduz. The Principality of Liechtenstein was established within the Holy Roman Empire in 1719, became a sovereign state in 1806. Until the end of the First World War, it was closely linked to Austria, but the economic devastation caused by the conflict forced Liechtenstein to enter a customs and monetary union with Switzerland. Since World War II (in which Liechtenstein remained neutral), the country’s low taxes have spurred exceptional economic growth. In 1921, Liechtenstein adopted the Swiss franc as the national currency and, in 1924, entered into a customs union with Switzerland. The borders between the two nations are open. Liechtenstein has not maintained an army since 1868.