Liechtenstein

"Liechtenstein is a little known success story in modern Europe. Excluded from the League of Nations in 1920 because it was thought too small, it is now an active member of the United Nations, the European Economic Area, the Council of Europe and other international organisations." "Its history has been dramatic and precarious. Several times it was in danger of vanishing from the map, most recently in 1939. It has no natural resources beyond a hard-working and entrepreneurial population. Since the 1940s low taxes, liberal regulation and 'small government' have helped to transform it from an agrarian backwater into one of the most advanced high-technology industrial countries in Europe. Its manufacturing companies are important providers of employment to people from the surrounding region. Globally, they offer almost as many jobs abroad as at home. Its flourishing financial services sector, although criticised in the past, is now better regulated than many others in Europe; it has recently been very positively assessed by the International Monetary Fund."--Jacket.