Recent Events and Developments in Liechtenstein
In 2000 Liechtenstein faced criticism from OECD for its non-cooperation in its fight against money laundering. This led to Liechtenstein bringing in financial reforms and stringency in the banking laws.
In 2003 Prince Hans-Adam was given sweeping powers in a referendum whereby the Monarch could appoint and dismiss governments at will. The Crown Prince Hans-Adam handed over powers of running day to day government affairs to his son Prince Alois while remaining the head of state.
In 2005 the Liechtenstein Parliament approved of a new government headed by incumbent PM Otmar Hasler but in coalition with Patriotic Union. In the same year abortion in early stages was legalized in a referendum while in 2006 Liechtenstein celebrated 200 years of its sovereignty.
Liechtenstein officials established that the country is bigger than previous estimates after re-measuring its borders. In 2008 Liechtenstein government bowed to international pressure brought by OECD and US by agreeing to cooperate fully on tax matters.
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