France vs. Monaco

France today is one of the most modern countries in the world and is a leader among European nations. It plays an influential global role as a permanent member of the United Nations Security Council, NATO, the G-7, the G-20, the EU, and other multilateral organizations. France rejoined NATO's integrated military command structure in 2009, reversing DE GAULLE's 1966 decision to withdraw French forces from NATO. Since 1958, it has constructed a hybrid presidential-parliamentary governing system resistant to the instabilities experienced in earlier, more purely parliamentary administrations. In recent decades, its reconciliation and cooperation with Germany have proved central to the economic integration of Europe, including the introduction of a common currency, the euro, in January 1999. In the early 21st century, five French overseas entities - French Guiana, Guadeloupe, Martinique, Mayotte, and Reunion - became French regions and were made part of France proper.

metropolitan France: Western Europe, bordering the Bay of Biscay and English Channel, between Belgium and Spain, southeast of the UK; bordering the Mediterranean Sea, between Italy and Spain;

French Guiana: Northern South America, bordering the North Atlantic Ocean, between Brazil and Suriname;

Guadeloupe: Caribbean, islands between the Caribbean Sea and the North Atlantic Ocean, southeast of Puerto Rico;

Martinique: Caribbean, island between the Caribbean Sea and North Atlantic Ocean, north of Trinidad and Tobago;

Mayotte: Southern Indian Ocean, island in the Mozambique Channel, about halfway between northern Madagascar and northern Mozambique;

Reunion: Southern Africa, island in the Indian Ocean, east of Madagascar

metropolitan France: 46 00 N, 2 00 E;

French Guiana: 4 00 N, 53 00 W;

Guadeloupe: 16 15 N, 61 35 W;

Martinique: 14 40 N, 61 00 W;

Mayotte: 12 50 S, 45 10 E;

Reunion: 21 06 S, 55 36 E

metropolitan France: Europe;

French Guiana: South America;

Guadeloupe: Central America and the Caribbean;

Martinique: Central America and the Caribbean;

Mayotte: Africa;

Reunion: World

metropolitan France: generally cool winters and mild summers, but mild winters and hot summers along the Mediterranean; occasional strong, cold, dry, north-to-northwesterly wind known as the mistral;

French Guiana: tropical; hot, humid; little seasonal temperature variation;

Guadeloupe and Martinique: subtropical tempered by trade winds; moderately high humidity; rainy season (June to October); vulnerable to devastating cyclones (hurricanes) every eight years on average;

Mayotte: tropical; marine; hot, humid, rainy season during northeastern monsoon (November to May); dry season is cooler (May to November);

Reunion: tropical, but temperature moderates with elevation; cool and dry (May to November), hot and rainy (November to April)

metropolitan France: mostly flat plains or gently rolling hills in north and west; remainder is mountainous, especially Pyrenees in south, Alps in east;

French Guiana: low-lying coastal plains rising to hills and small mountains;

Guadeloupe: Basse-Terre is volcanic in origin with interior mountains; Grande-Terre is low limestone formation; most of the seven other islands are volcanic in origin;

Martinique: mountainous with indented coastline; dormant volcano;

Mayotte: generally undulating, with deep ravines and ancient volcanic peaks;

Reunion: mostly rugged and mountainous; fertile lowlands along coast

metropolitan France: flooding; avalanches; midwinter windstorms; drought; forest fires in south near the Mediterranean;

overseas departments: hurricanes (cyclones); flooding;

volcanism: Montagne Pelee (1,394 m) on the island of Martinique in the Caribbean is the most active volcano of the Lesser Antilles arc, it last erupted in 1932; a catastrophic eruption in May 1902 destroyed the city of St. Pierre, killing an estimated 30,000 people; La Soufriere (1,467 m) on the island of Guadeloupe in the Caribbean last erupted from July 1976 to March 1977; these volcanoes are part of the volcanic island arc of the Lesser Antilles that extends from Saba in the north to Grenada in the south

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. France is the most visited country in the world with 89 million foreign tourists in 2017. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality.

France's real GDP grew by 1.9% in 2017, up from 1.2% the year before. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2015, before falling to 9.0% in 2017. Youth unemployment in metropolitan France decreased from 24.6% in the fourth quarter of 2014 to 20.6% in the fourth quarter of 2017.

France's public finances have historically been strained by high spending and low growth. In 2017, the budget deficit improved to 2.7% of GDP, bringing it in compliance with the EU-mandated 3% deficit target. Meanwhile, France's public debt rose from 89.5% of GDP in 2012 to 97% in 2017.

Since entering office in May 2017, President Emmanuel MACRON launched a series of economic reforms to improve competitiveness and boost economic growth. President MACRON campaigned on reforming France's labor code and in late 2017 implemented a range of reforms to increase flexibility in the labor market by making it easier for firms to hire and fire and simplifying negotiations between employers and employees. In addition to labor reforms, President MACRON's 2018 budget cuts public spending, taxes, and social security contributions to spur private investment and increase purchasing power. The government plans to gradually reduce corporate tax rate for businesses from 33.3% to 25% by 2022.

Monaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a banking center and has successfully sought to diversify into services and small, high-value-added, nonpolluting industries. The state retains monopolies in a number of sectors, including tobacco, the telephone network, and the postal service. Living standards are high, roughly comparable to those in prosperous French metropolitan areas.

The state has no income tax and low business taxes and thrives as a tax haven both for individuals who have established residence and for foreign companies that have set up businesses and offices. Monaco, however, is not a tax-free shelter; it charges nearly 20% value-added tax, collects stamp duties, and companies face a 33% tax on profits unless they can show that three-quarters of profits are generated within the principality. Monaco was formally removed from the OECD's "grey list" of uncooperative tax jurisdictions in late 2009, but continues to face international pressure to abandon its banking secrecy laws and help combat tax evasion. In October 2014, Monaco officially became the 84th jurisdiction participating in the OECD's Multilateral Convention on Mutual Administrative Assistance in Tax Matters, an effort to combat offshore tax avoidance and evasion.

Monaco's reliance on tourism and banking for its economic growth has left it vulnerable to downturns in France and other European economies which are the principality's main trade partners. In 2009, Monaco's GDP fell by 11.5% as the euro-zone crisis precipitated a sharp drop in tourism and retail activity and home sales. A modest recovery ensued in 2010 and intensified in 2013, with GDP growth of more than 9%, but Monaco's economic prospects remain uncertain.

Italy 19%, Germany 14%, United Kingdom 9%, Switzerland 9%, Spain 8%, United States 6%, Belgium 5%

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one of the largest mobile phone markets in Europe; LTE has universal coverage with extensive 5G; one of the largest broadband subscriber bases in Europe; regional government and telecom companies have invested in higher bandwidth with fiber infrastructure improvements, an investment of more than 20 billion euros; operator investment in developing markets, and on the greater use of artificial intelligence and data; satellite broadband connectivity across France; Paris adopted smart city technology; importer of broadcast equipment from China (2021)

Madagascar claims the French territories of Bassas da India, Europa Island, Glorioso Islands, and Juan de Nova Island; Comoros claims Mayotte; Mauritius claims Tromelin Island; territorial dispute between Suriname and the French overseas department of French Guiana; France asserts a territorial claim in Antarctica (Adelie Land); France and Vanuatu claim Matthew and Hunter Islands, east of New Caledonia

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