At a meeting of representatives of the European Commission and Monaco in September, the negotiating partners agreed not to pursue the association agreement any further for the time being. The conditions for concluding such an agreement were not met, they said.

Prince’s palace in Monaco, Image source: Pixabay

However, the EU expressed its willingness to resume negotiations in the future. It also said it would remain Monaco’s important trading partner.

In the run-up, the European financial supervisory authority had expressed concerns about the agreement. The principality could be used as a money laundering loophole.

Source: DIHK, EU Commission (French)