Albert II, Prince of Monaco
As Monaco's head of state, Prince Albert II is depicted on coins, including collectors' coins, with very rare exceptions. One of the most recent examples is the €5 silver Prince Albert II commemorative coin, the first commemorative coin with his effigy on it, minted in 2008. On the obverse, the prince is depicted in profile with his name on the top of the coin. On the reverse, the Grimaldi coat of arms appears; around it, the words "Principauté de Monaco" (Principality of Monaco) also appear along with the nominal monetary value of the coin.As the prince, his official shortened title is "His Serene Highness Albert II, Sovereign Prince of Monaco"; this does not include the many other styles claimed by the Grimaldi family.
France–Monaco relations
In 1962, Monaco's refusal to impose a tax on both its residents and international businesses caused problems in relations. However, it was resolved with an agreement that French citizens with less than five years of residence in Monaco and companies doing more than 25 percent of their business outside the country would be taxed at French rates. The crisis also led a new constitution and the restoration of the National Council. Amongst the edicts of the new constitution are the prince's nomination of a Council of Government that consists of a Minister of State who is a French citizen and selected for a three-year term from a group of senior French civil servants selected by the French government. They are the prince's representative and are in charge of foreign relations, directs executive services, the police and the Council of Government. They also choose three council members: one to take care of the economy and finances; one for Home Affairs; and, one for social affairs. All ministers are accountable to Monaco's prince.