Liechtenstein. When elections to Parliament, Lantdag, were held in February, both the two dominant parties backed down. The former largest party of the Fosterlands Union (VU) received eight seats, while ten went to the Progressive Citizens’ Party (FBP). Both parties are conservative and usually change seats as the largest party.
According to Countryaah, the Environmental Party The Free List increased to three terms, while the newly formed The Independent trumped four seats after successfully criticizing the old parties. It was the first time that four parties were in Lantdag.
As usual, FBP and VU formed a coalition government, with FBP’s Adrian Hasler as the new prime minister.
As a result of long-standing international pressure, the government promised in November to ease banking secrecy and make it harder for foreigners to hide money in accounts in the country to avoid tax.
- According to AbbreviationFinder.org, Vaduz is the capital city of Liechtenstein. See acronyms and abbreviations related to this capital and other major cities within this country.
Human and economic geography
Internal state of central Europe. According to an official estimate in 2005, the population was 35,000, of which about a third were foreigners (mostly Swiss).
In terms of per capita income, Liechtenstein is one of the richest countries in the world: devoid of natural resources (except for an important hydroelectric potential), thanks to a liberal economy and favorable banking and tax legislation (which, however, has no few problems; see below: History) has attracted huge flows of foreign capital, enormously developing the tertiary sector, in which 54.5 % of the workforce was employed in 2004 ; in the same year there were about 75,000foreign companies based in the country. Liechtenstein is not only an important financial center, but also has a discrete industrial sector, mainly export-oriented (textile, pharmaceutical, electronic and precision mechanics branches). Furthermore, the state allocates 5 % of its GDP to research and innovation, sectors that have greatly contributed to the country’s economic success.