Author: Bob Cartwright
The tiny Principality of Monaco could be about to grow with the news that a new district of the Riviera tax haven could be built over the sea on stilts. Using oil rig technology, the new extension of the country would include apartments, shops and mooring for yachts. Most importantly, the current 33,000 population of Monaco, mainly rich foreigners attracted by the tax perks, could expand.
Environmentalists are already voicing concerns about the plan. The ruler of Monaco, Prince Albert, has launched many environmentally friendly initiatives, drives an electric car and has set up an eco-foundation. The Principality's councillor for the environment, Robert Calcagno, says the project would be developed carefully and would boost marine life. He added that the new site would not be built on areas with coral or sea plants but in a zone where nothing remarkable grows.
It's thought that the expansion of Monaco will take a decade to build.