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Societé Monégasque De Banques Et De Métaux Précieux
Societé Monégasque de Banques et de Métaux Précieux was a Monaco bank which failed in 1955. The failure of the bank led to the resignation of Monaco's cabinet."Obituary: Prince Rainier III of Monaco.", ''The Times'', London, 7 April 2005, pg. 58 History The failure of the bank was due to its investments in the media company Images et Son, that had been founded by the Ireland, Irish businessman Charles Michelson. Michelson's Images et Son had been founded after he had been granted the rights to shortwave radio and television in Monaco by the French government as the result of a financial settlement in 1949. In turn, Michelson granted his own rights to Rainier III, Prince of Monaco, while he kept a financial stake in the company. In 1955, the Government of France, French government withdraw the rights from Michelson, and the resulting collapse in the share price of Images et Son on the Paris stock exchange caused problems for the bank who had invested heavily in the company. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monaco
Monaco (; ), officially the Principality of Monaco (french: Principauté de Monaco; Ligurian: ; oc, Principat de Mónegue), is a sovereign city-state and microstate on the French Riviera a few kilometres west of the Italian region of Liguria, in Western Europe, on the Mediterranean Sea. It is bordered by France to the north, east and west. The principality is home to 38,682 residents, of whom 9,486 are Monégasque nationals; it is widely recognised as one of the most expensive and wealthiest places in the world. The official language of the principality is French. In addition, Monégasque (a dialect of Ligurian), Italian and English are spoken and understood by many residents. With an area of , it is the second-smallest sovereign state in the world, after Vatican City. Its make it the most densely-populated sovereign state in the world. Monaco has a land border of and the world's shortest coastline of approximately ; it has a width that varies between . The hig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |