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Monaco/bilateral relations

Published on November 20, 2013
Statement by M. François Hollande, President of the Republic

Monaco, November 14, 2013

I want to begin by drawing attention to a number of subjects we discussed.

The negotiations opening between Monaco and the European Union. It’s important for your principality, because it means access to the internal market. It’s also an issue of interest to France, because we need Monaco fully in the European Union. And Europe must welcome your initiative in the best possible way. France will be at your side.

We’re also aware that Monaco has, at your behest, made efforts for transparency and the fight against [money] laundering. Monaco is soon going to sign the OECD’s multilateral Convention on Mutual Administrative Assistance in Tax Matters and what we call “automatic information exchange”.

Fighting fraud. Since 2009, you’ve been off what were called the international “grey lists”. The assessments made in the framework of the forums we know – the OECD, FATF, MONEYVAL – allow us to say that major progress has been made. Monaco is soon going to join the 59 countries which have signed this OECD convention. As you know, France is fully committed to promoting tax transparency. Monaco has passed a milestone. I wanted to highlight that here. (…)./.

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