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Prince Albert of Monaco, son of Prince Rainier and Hollywood actress
Grace Kelly, ascended the throne on Tuesday in ceremonies that delighted
the principality after months of mourning and revelations about his love
life.
The 47-year-old prince promised he would continue efforts made over the
past few years to clean up Monaco's image as a center for money laundering
and loose financial controls.
"I intend to have ethics as the basis of the behavior of Monaco
authorities," he said after being blessed at a Roman Catholic mass. "Money
and virtue should always go hand in hand."
Monaco has long had the reputation of a tax haven, but the tiny
principality has considerably
tightened its financial guidelines in recent years under pressure from the
Organization for Economic Cooperation and Development (OECD).
While stressing his determination to ensure business respects ethical
standards, the prince stressed he wanted the city-state near the
French-Italian border to "play a more important role in international
financial markets."
Albert's recent admission that he had an illegitimate son with a French
flight attendant of Togolese origin had threatened to overshadow his
enthronement which came after a three-month mourning period for his
father, Prince Rainier.
But the scandal did not dampen spirits here and several hundred
people attended the mass celebrating his enthronement and many others
watched on screens outside. Monaco citizens later attended a public
reception to celebrate the event.
Albert's sisters Stephanie and Caroline, whose stormy love lives have
been splashed across Europe's gossip press much more than his discreet
affairs, both held his hands at the ceremony marking a change of
generation in the tiny principality.
Red and white national flags fluttered on buildings and lamp posts
across the principality. A fireworks display and an open-air ball were
planned later on Tuesday, and Monaco's mayor was to give Albert the city
keys in a symbolic handover.
"We're very proud of our prince, our little prince," said a middle-aged
woman at the cathedral where Rainier's marriage to Princess Grace brought
glamour to the tiny Mediterranean state.
Tuesday's ceremonies officially installed Albert in power although he
has carried out duties as head of state since his father's death on April
6.
The Grimaldi dynasty has ruled Monaco for more than seven centuries and
is no stranger to tragedy and bad publicity.
Soon after Rainier's death, Paris Match magazine reported Albert had
fathered a boy called Alexandre and published photos of him with the
child, now aged two.
The prince acknowledged the boy last week and promised to meet his
duties toward him. Albert, often portrayed as a playboy, admitted others
could come forward with paternity claims, but said: "We will respond when
the time comes."
The boy will not succeed Albert because under Monaco's constitution
only a child born in wedlock can become monarch.
Rainier's marriage to Grace, who was killed in a 1982 car crash, wedded
Hollywood to one of Europe's oldest dynasties.
The prince led Monaco into an age of skyscrapers and big business, but
he faced accusations that the principality turned a blind eye to money
laundering.
Albert, born in 1958, has been called one of Europe's most eligible
bachelors. He dreamt of a career in soccer, took part in the 1985
Paris-Dakar rally and is a judo black belt. He represented Monaco at the
Olympic Games in the bobsleigh four times and finished 7th in the world
championships.
(Agencies) | 
Updated: 2005-07-13 09:00
