Liechtenstein - Country history and economic development



1719. The former domain of Schellenberg and the country of Vaduz are combined into the Principality of Liechtenstein within the Holy Roman Empire.

1806. The principality is recognized as a sovereign state. Until the end of World War I, it remains closely tied to the Austrian Empire (named the Austro-Hungarian Empire after 1867).

1918. The military defeat and the collapse of the Austro-Hungarian Empire in World War I forces Liechtenstein to conclude a customs and monetary union with its other prosperous yet neutral neighbor, Switzerland.

1938. Prince Franz Joseph II becomes sovereign; the principality remains neutral in World War II (1939-45), while neighboring Austria is annexed by Nazi Germany.

1984. Executive authority is transferred to Prince Hans Adam II (crowned in 1989); a referendum grants women the right to vote in national elections.

1990. Liechtenstein joins the United Nations.

1991. Liechtenstein joins the European Free Trade Association (EFTA).

1992. Voters approve Liechtenstein's membership in the European Economic Area (EEA).

2000. Liechtenstein is disturbed by a money-laundering scandal and a constitutional crisis between the prince and the government.

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