What is Liechtenstein?
Liechtenstein is a small, landlocked country located in Central Europe, bordered by Switzerland to the west and south, and Austria to the east and north. Known for its strong financial sector, high standard of living, and scenic alpine landscapes, Liechtenstein is one of the world’s richest nations by GDP per capita.
Administrative Divisions
Liechtenstein is divided into 11 municipalities:
- Balzers
- Eschen
- Gamprin
- Liechtenstein
- Mauren
- Schaan (Largest municipality and the economic center)
- Schellenberg
- Shloss
- Vaduz (Capital city)
- Balzers
- Aesch
Currency Details
- Currency Name: Swiss Franc (CHF)
- Symbol: CHF
- Subunit: Rappen (1 CHF = 100 Rappen)
- Central Bank: There is no central bank, but the country uses the Swiss Franc due to its close economic ties with Switzerland.
Type of Government
Liechtenstein is a constitutional monarchy with a parliamentary system. The country has a unique political system where power is shared between the prince and the parliament.
Detailed Hierarchy of Government Roles
Executive Branch Hierarchy
| Position | Role Description | Power & Responsibilities |
|---|---|---|
| Prince | Head of State | Holds executive power, can veto laws, and appoints judges. |
| Prime Minister | Head of Government | Leads the government and implements policies. |
| Council of Ministers | Cabinet of government ministers | Responsible for national policy, government administration. |
Legislative Branch Hierarchy
| Position | Role Description | Power & Responsibilities |
|---|---|---|
| Parliament (Landtag) | Legislative body of Liechtenstein | Consists of 25 members, elected to pass laws, debate, and control the budget. |
| President of the Landtag | Presides over parliamentary sessions | Ensures legislative procedures are followed. |
Judicial Branch Hierarchy
| Position | Role Description | Power & Responsibilities |
|---|---|---|
| Constitutional Court | Ensures laws comply with the constitution | Reviews laws and legal matters relating to the constitution. |
| Supreme Court | Highest judicial authority | Makes final decisions on appeals and legal disputes. |
| District Courts | Courts at the lower level | Handles civil and criminal cases at the district level. |
International Memberships
- European Economic Area (EEA) (Not an EU member but part of the European free market)
- United Nations (UN) (Non-member observer state)
- World Trade Organization (WTO)
- Council of Europe
Military Structure
Liechtenstein does not have a standing army. Instead, its defense is handled by Switzerland under an agreement between the two countries. The military structure, however, includes a Liechtenstein Police Force that maintains law and order domestically.
Secret Agencies
Liechtenstein does not have secret agencies in the same way as larger countries. National security is managed with the assistance of Switzerland, primarily through international intelligence sharing.
Stock Markets
Liechtenstein does not have its own stock exchange. However, the country is home to a highly developed financial sector and its banks offer a variety of investment options.
- Liechtenstein Bankers Association: Overseeing the financial institutions in the country.
- LGT Group: A prominent private banking institution based in Liechtenstein.
Emergency Numbers
- General Emergency: 112
- Police: 117
- Fire: 118
- Medical Emergency: 144
SWOT Analysis of Liechtenstein
Strengths
- High GDP per capita and standard of living.
- Strong financial services sector and banking system.
- Political stability due to the constitutional monarchy.
Weaknesses
- Small population with limited labor market.
- Heavy reliance on Switzerland for defense and foreign relations.
- Limited resources for diversification in sectors outside of finance.
Opportunities
- Growth potential in the tech and finance industries.
- Expansion of tourism sector leveraging scenic landscapes.
- Enhanced relations within the European Economic Area (EEA).
Threats
- Vulnerable to international financial regulations.
- Economic challenges due to its small size and market.
- Potential geopolitical tensions despite neutrality.
Additional Information
- Official Language: German
- Time Zone: Central European Time (CET)
- National Anthem: “Oben am jungen Rhein”