State Minister Pierre Dartout, along with the government officials and the High Commissioner for European Affairs, hosted a press conference today to share the results of a study examining the potential economic, legal, and political ramifications for Monaco should ongoing negotiations with the European Union fail. The government commissioned the law firm August Debouzy and its financial consulting subcontractor, Accuracy, to conduct the study.
This initiative follows eight years of intense negotiation and enters a crucial phase. The Princely Government considered it prudent to undertake this foresight study to ensure they were prepared for all eventualities.
August Debouzy and Accuracy representatives presented the findings to the National Council members. The study comprised two parts - a summary report and an economic report - both outlining the various potential scenarios (agreement / no agreement) and their implications for the Principality.
Pierre Sellal, senior counsel at August Debouzy, summed up the report's intention as follows: "The goal is to provide the Government with an appraisal basis for the decision it must make, relying on a comprehensive and objective evaluation of the consequences of either reaching an agreement or failing to do so."
State Minister Dartout expressed his gratitude to both law firms and all administration teams led by Isabelle Costa for their work. "This study reassures us that we need to continue progressing in the negotiations we are conducting with the European Commission, while remaining vigilant on issues that are crucial for the Principality," he said.
Both documents presented by the commissioned firms are available on the Princely Government's website in the "Monaco and the European Union" section.
These firms were selected after a consultation launched last September, which resulted in three high-quality offers being submitted.