Liechtenstein

Liechtenstein is a microstate in the Central European Alps, bordered by Austria and Switzerland, with Vaduz as its capital, formed as a principality in 1719 and gaining full independence in 1866 upon the dissolution of the German Confederation; it introduced constitutional monarchy in 1921 after the First World War. It operates as a unitary parliamentary constitutional monarchy with elements of direct democracy, but a 2003 constitutional referendum gave its reigning prince extensive powers, including the authority to dismiss the government, nominate judges and veto legislation, leading the BBC to describe Liechtenstein as Europe's only absolute monarchy in practice; Hans-Adam II has reigned since 1989, with his son, Hereditary Prince Alois, serving as regent and heir apparent. At about 160 square kilometers, Europe's fourth smallest country, Liechtenstein had a population of roughly 41,237 as of 2025, making it the world's smallest country to border two other countries; it uses the Swiss franc under a monetary union with Switzerland and carries no national debt.