History
Since the signing of the Customs Treaty in 1916, Liechtenstein and Switzerland have represented one mutual economic area. Therefore, the borders between those states are open. The country also uses the Swiss franc as its national currency, and Swiss customs officers secure its border with Austria. Currently there are 21 Swiss border guards stationed in Liechtenstein and 20 Austria border guards securing its border (as of 2011).
Liechtenstein is a member of EFTA, and joined the European Economic Area (EEA) in 1995 in order to benefit from the EU internal market. The capitalist economy and tax system make Liechtenstein a safe, trustworthy, and success-oriented place for private and business purposes, especially with its highly modern, internationally laid-out infrastructure and nearby connections to the whole world.
The Principality of Liechtenstein has gone through economic and cultural development in the last 40 years like no other Western country. In this short period, Liechtenstein developed from a mainly agricultural state to one of the most highly industrialized countries in the world.
Read more about this topic: Economy Of Liechtenstein
Famous quotes containing the word history:
“Yet poetry, though the last and finest result, is a natural fruit. As naturally as the oak bears an acorn, and the vine a gourd, man bears a poem, either spoken or done. It is the chief and most memorable success, for history is but a prose narrative of poetic deeds.”
—Henry David Thoreau (1817–1862)
“History is not what you thought. It is what you can remember. All other history defeats itself.
In Beverly Hills ... they don’t throw their garbage away. They make it into television shows.
Idealism is the despot of thought, just as politics is the despot of will.”
—Mikhail Bakunin (1814–1876)
“There is no example in history of a revolutionary movement involving such gigantic masses being so bloodless.”
—Leon Trotsky (1879–1940)