Tennis at the Summer Olympics
Tennis was part of the Summer Olympic Games program from the inaugural 1896 Summer Olympics, but was dropped after the 1924 Summer Olympics due to disputes between the International Lawn Tennis Federation and the International Olympic Committee over how to define amateur players. After two appearances as a demonstration sport in 1968 and 1984, it returned as a full medal sport at the 1988 Summer Olympics and has been played at every edition of the Games since then. In 1896, 1900, 1904, 1988, 1992, semifinal losers shared bronze medals. In all other years, a playoff match for the bronze medal was staged. From the 2004 Athens Olympics until the 2012 London Olympics, results from the Olympics was counted towards both the ATP and WTA world rankings in singles for that calendar year. While the ranking points distribution did not equate to those given at the Grand Slam tournaments, the Olympic tournaments have increased in perceived importance since their reintroduction, with some players and sports pundits considering winning the gold at the Olympics just as prestigious as winning a Grand Slam title.
A player who wins an Olympic gold medal and all four Grand Slam events in the same year is said to have won a Golden Slam. As of 2016, Steffi Graf is the only player to have completed this achievement; the playing surface of the court varies between Olympic Games. It has been on hard court for every game since 1984 except for the 1992 Olympics and the 2012 Olympics; the changing playing surface gives certain players different advantages and disadvantages not seen in most other Olympic sports. = demonstration event, = exhibition event Italics represents that tennis was an exhibition or demonstration tournament at that Olympics. List of Olympic venues in tennis Tennis at the Youth Olympic Games Tennis at the Mediterranean Games Tennis at the Pan American Games List of Olympic medalists in tennis Wheelchair tennis at the Summer Paralympics Olympic Tennis Event website
The ATP Finals is the second highest tier of annual men's tennis tournament after the four Grand Slam tournaments. A week-long event, the tournament is held annually each November at the O2 Arena in London, United Kingdom; the ATP Finals are the season-ending championships of the ATP Tour and feature the top eight singles players and doubles teams of the ATP Rankings. The tournament was first held in 1970. Roger Federer holds the record for the most singles titles with six, while Peter Fleming and John McEnroe hold the record for the most doubles titles with seven. In the current tournament, winners are awarded up to 1500 ranking points; the event is the fourth evolution of a championship which began in 1970. It was known as the Masters Grand Prix and was part of the Grand Prix Tennis Circuit, it was organised by the International Lawn Tennis Federation. It ran alongside the competing WCT Finals the season-ending championships for the rival World Championship Tennis Tour; the Masters was a year-end showpiece event between the best players on the men's tour, but did not count for any world ranking points.
In 1990, the Association of Tennis Professionals took over the running of the men's tour and replaced the Masters with the ATP Tour World Championship. World ranking points were now at stake, with an undefeated champion earning the same number of points they would for winning one of the four Grand Slam events; the ITF, who continued to run the Grand Slam tournaments, created a rival year-end event known as the Grand Slam Cup, contested by the 16 players with the best records in Grand Slam competitions that year. In December 1999, the ATP and ITF agreed to discontinue the two separate events and create a new jointly-owned event called the Tennis Masters Cup; as with the Masters Grand Prix and the ATP Tour World Championships, the Tennis Masters Cup was contested by eight players. However, player, ranked number eight in the ATP Champion's Race world rankings does not have a guaranteed spot. If a player who wins one of the year's Grand Slam events finishes the year ranked outside the top eight but still within the top 20, he is included in the Tennis Masters Cup instead of the eighth-ranked player.
If two players outside the top eight win Grand Slam events, the higher placed player in the world rankings takes the final spot in the Tennis Masters Cup. In 2009, the Masters was renamed the ATP World Tour Finals and was held at The O2 in London from 2009 to 2013. In 2012, the organisers extended the contract by two years up to 2015. In 2015, the contract was extended again for three years up to 2018. In 2017 the event was renamed the ATP Finals and the contract with the O2 Arena was extended to 2020. In December 2018 it was announced that London, along with Manchester, Singapore and Turin were on a shortlist of five cities which made the cut from an initial list of 40 to host the event from 2021. For many years, the doubles event was held as a separate tournament the week after the singles competition, but more they have been held together in the same week and venue. For most of its history, the event has been considered as the most important indoor tennis tournament on the world tour, allowing for controlled conditions of play, regarding both surface type and illumination system.
In recent years it has been played on indoor hard courts, indoor carpet has featured for many editions previously. Once when Melbourne hosted it in 1974 the grass courts of Kooyong Stadium were used and occurred a few weeks before the 1974 Australian Open, which were played on grass. Apart from 1974, all tournaments have been on a hard court variant, which has prompted calls from Rafael Nadal to feature a mix of surfaces and include clay courts. However, this has drawn criticism as well as suggestions to reduce the number of clay court tournaments in the season and the ATP are not keen to change this aspect of the tournament. There are eight players or teams, playing is mandatory except for injury or other good cause. Qualification is as follows: the top seven players in the ATP rankings up to two grand slam winners ranked between 8 and 20 the next players in the ATP rankings, until the quota of eight is reached; the ATP Finals rewards the following points and prize money, per victory: 1 Prize money for doubles is per team.
There is an appearance fee of $203,000 singles, $100,000 per doubles team. The two alternates are paid $110,000 and $38,000. An undefeated champion would earn the maximum 1,500 points, $2,712,000 in singles or $517,000 in doubles. In addition, prizes include the Barclays ATP Singles and Doubles World Tour Finals Trophies and the ATP Tour World No.1 Trophy, all made by London-based silversmiths Thomas Lyte. Unlike all other singles events on the men's tour, the ATP Finals is not a straightforward knock-out tournament. Eight players are divided into two groups of four and play three round-robin matches each against the other players in their group; the two players with the best records in each group progress to the semifinals, with the winners meeting in the final to determine the champion. Though it is theoretically possible to advance to the semi-finals of the tournament with two round-robin losses no player in the history of the singles tournament has won the title after losing more than one round-robin match.
The current round robin format of two groups of four players progressing to a semifinal and final, has been in place for all editions of the tournament except the
Stuttgart is the capital and largest city of the German state of Baden-Württemberg. Stuttgart is located on the Neckar river in a fertile valley known locally as the "Stuttgart Cauldron." It lies an hour from the Black Forest. Its urban area has a population of 609,219, making it the sixth largest city in Germany. 2.7 million people live in the city's administrative region and another 5.3 million people in its metropolitan area, making it the fourth largest metropolitan area in Germany. The city and metropolitan area are ranked among the top 20 European metropolitan areas by GDP. Since the 6th millennium BC, the Stuttgart area has been an important agricultural area and has been host to a number of cultures seeking to utilize the rich soil of the Neckar valley; the Roman Empire conquered the area in 83 AD and built a massive castrum near Bad Cannstatt, making it the most important regional centre for several centuries. Stuttgart's roots were laid in the 10th century with its founding by Liudolf, Duke of Swabia, as a stud farm for his warhorses.
Overshadowed by nearby Cannstatt, the town grew and was granted a charter in 1320. The fortunes of Stuttgart turned with those of the House of Württemberg, they made it the capital of their county and kingdom from the 15th century to 1918. Stuttgart prospered despite setbacks in the Thirty Years' War and devastating air raids by the Allies on the city and its automobile production during World War II. However, by 1952, the city had bounced back and it became the major economic, industrial and publishing centre it is today. Stuttgart is a transport junction, possesses the sixth-largest airport in Germany. Several major companies are headquartered in Stuttgart, including Porsche, Mercedes-Benz, Daimler AG, Dinkelacker. Stuttgart is unusual in the scheme of German cities, it is spread across a variety of hills and parks. This surprises visitors who associate the city with its reputation as the "cradle of the automobile"; the city's tourism slogan is "Stuttgart offers more". Under current plans to improve transport links to the international infrastructure, the city unveiled a new logo and slogan in March 2008 describing itself as "Das neue Herz Europas".
For business, it describes itself as "Where business meets the future". In July 2010, Stuttgart unveiled a new city logo, designed to entice more business people to stay in the city and enjoy breaks in the area. Stuttgart is a city with a high number of immigrants. According to Dorling Kindersley's Eyewitness Travel Guide to Germany, "In the city of Stuttgart, every third inhabitant is a foreigner." 40% of Stuttgart's residents, 64% of the population below the age of five, are of immigrant background. Stuttgart nicknamed the "Schwabenmetropole" in reference to its location in the centre of Swabia and the local dialect spoken by the native Swabians, has its etymological roots in the Old High German word Stuotgarten, or "stud farm", because the city was founded in 950 AD by Duke Liudolf of Swabia to breed warhorses; the most important location in the Neckar river valley was the hilly rim of the Stuttgart basin at what is today Bad Cannstatt. Thus, the first settlement of Stuttgart was a massive Roman Castra stativa built c. 90 AD to protect the Villas and vineyards blanketing the landscape and the road from Mogontiacum to Augusta Vindelicorum.
As with many military installations, a settlement sprang up nearby and remained there after the Limes moved further east. When they did, the town was left in the capable hands of a local brickworks that produced sophisticated architectural ceramics and pottery; when the Romans were driven back past the Rhine and Danube rivers in the 3rd century by the Alamanni, the settlement temporarily vanished from history until the 7th century. In 700, Duke Gotfrid mentions a "Chan Stada" in a document regarding property. Archaeological evidence shows that Merovingian era Frankish farmers continued to till the same land the Romans did. Cannstatt is mentioned in the Abbey of St. Gall's archives as "Canstat ad Neccarum" in 708; the etymology of the name "Cannstatt" is not clear, but as the site is mentioned as condistat in the Annals of Metz, it is derived from the Latin word condita, suggesting that the name of the Roman settlement might have had the prefix "Condi-." Alternatively, Sommer suggested that the Roman site corresponds to the Civitas Aurelia G attested to in an inscription found near Öhringen.
There have been attempts at a derivation from a Gaulish *kondâti- "confluence". In 950 AD, Duke Liudolf of Swabia, son of the current Holy Roman Emperor Otto I, decided to establish a stud farm for his cavalry during the Hungarian invasions of Europe on a widened area of the Nesenbach river valley 5 kilometres south of the old Roman castrum; the land and title of Duke of Swabia remained in Liudolf's hands until his rebellion was quashed by his father four years later. In 1089, Bruno of Calw built the precursor building to the Old Castle. Stuttgart's viticulture, first documented in the Holy Roman Empire in the year 1108 AD
United States dollar
The United States dollar is the official currency of the United States and its territories per the United States Constitution since 1792. In practice, the dollar is divided into 100 smaller cent units, but is divided into 1000 mills for accounting; the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. Since the suspension in 1971 of convertibility of paper U. S. currency into any precious metal, the U. S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U. S. dollar is the world's primary reserve currency. Several countries use it as their official currency, in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or accept U. S. dollar coins. As of June 27, 2018, there are $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes.
Article I, Section 8 of the U. S. Constitution provides that the Congress has the power "To coin money". Laws implementing this power are codified at 31 U. S. C. § 5112. Section 5112 prescribes the forms; these coins are both designated in Section 5112 as "legal tender" in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar; the pure silver dollar is known as the American Silver Eagle. Section 5112 provides for the minting and issuance of other coins, which have values ranging from one cent to 100 dollars; these other coins are more described in Coins of the United States dollar. The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time"; that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the "Statements" are being expressed in U. S. dollars. The U. S. dollar may therefore be described as the unit of account of the United States.
The word "dollar" is one of the words in the first paragraph of Section 9 of Article I of the Constitution. There, "dollars" is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act. Section 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". Section 20 of the act provided, "That the money of account of the United States shall be expressed in dollars, or units... and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation". In other words, this act designated the United States dollar as the unit of currency of the United States. Unlike the Spanish milled dollar, the U.
S. dollar is based upon a decimal system of values. In addition to the dollar the coinage act established monetary units of mill or one-thousandth of a dollar, cent or one-hundredth of a dollar, dime or one-tenth of a dollar, eagle or ten dollars, with prescribed weights and composition of gold, silver, or copper for each, it was proposed in the mid-1800s that one hundred dollars be known as a union, but no union coins were struck and only patterns for the $50 half union exist. However, only cents are in everyday use as divisions of the dollar. XX9 per gallon, e.g. $3.599, more written as $3.599⁄10. When issued in circulating form, denominations equal to or less than a dollar are emitted as U. S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes. Both one-dollar coins and notes are produced today, although the note form is more common. In the past, "paper money" was issued in denominations less than a dollar and gold coins were issued for circulation up to the value of $20.
The term eagle was used in the Coinage Act of 1792 for the denomination of ten dollars, subsequently was used in naming gold coins. Paper currency less than one dollar in denomination, known as "fractional currency", was sometimes pejoratively referred to as "shinplasters". In 1854, James Guthrie Secretary of the Treasury, proposed creating $100, $50 and $25 gold coins, which were referred to as a "Union", "Half Union", "Quarter Union", thus implying a denomination of 1 Union = $100. Today, USD notes are made from cotton fiber paper, unlike most common paper, made of wood fiber. U. S. coins are produced by the United States Mint. U. S. dollar banknotes are printed by the Bureau of Engraving and Printing and, since 1914, have been issued by t
Sydney is the state capital of New South Wales and the most populous city in Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Port Jackson and extends about 70 km on its periphery towards the Blue Mountains to the west, Hawkesbury to the north, the Royal National Park to the south and Macarthur to the south-west. Sydney is made up of 40 local government areas and 15 contiguous regions. Residents of the city are known as "Sydneysiders"; as of June 2017, Sydney's estimated metropolitan population was 5,230,330 and is home to 65% of the state's population. Indigenous Australians have inhabited the Sydney area for at least 30,000 years, thousands of engravings remain throughout the region, making it one of the richest in Australia in terms of Aboriginal archaeological sites. During his first Pacific voyage in 1770, Lieutenant James Cook and his crew became the first Europeans to chart the eastern coast of Australia, making landfall at Botany Bay and inspiring British interest in the area.
In 1788, the First Fleet of convicts, led by Arthur Phillip, founded Sydney as a British penal colony, the first European settlement in Australia. Phillip named the city Sydney in recognition of 1st Viscount Sydney. Penal transportation to New South Wales ended soon after Sydney was incorporated as a city in 1842. A gold rush occurred in the colony in 1851, over the next century, Sydney transformed from a colonial outpost into a major global cultural and economic centre. After World War II, it experienced mass migration and became one of the most multicultural cities in the world. At the time of the 2011 census, more than 250 different languages were spoken in Sydney. In the 2016 Census, about 35.8% of residents spoke a language other than English at home. Furthermore, 45.4% of the population reported having been born overseas, making Sydney the 3rd largest foreign born population of any city in the world after London and New York City, respectively. Despite being one of the most expensive cities in the world, the 2018 Mercer Quality of Living Survey ranks Sydney tenth in the world in terms of quality of living, making it one of the most livable cities.
It is classified as an Alpha+ World City by Globalization and World Cities Research Network, indicating its influence in the region and throughout the world. Ranked eleventh in the world for economic opportunity, Sydney has an advanced market economy with strengths in finance and tourism. There is a significant concentration of foreign banks and multinational corporations in Sydney and the city is promoted as Australia's financial capital and one of Asia Pacific's leading financial hubs. Established in 1850, the University of Sydney is Australia's first university and is regarded as one of the world's leading universities. Sydney is home to the oldest library in Australia, State Library of New South Wales, opened in 1826. Sydney has hosted major international sporting events such as the 2000 Summer Olympics; the city is among the top fifteen most-visited cities in the world, with millions of tourists coming each year to see the city's landmarks. Boasting over 1,000,000 ha of nature reserves and parks, its notable natural features include Sydney Harbour, the Royal National Park, Royal Botanic Garden and Hyde Park, the oldest parkland in the country.
Built attractions such as the Sydney Harbour Bridge and the World Heritage-listed Sydney Opera House are well known to international visitors. The main passenger airport serving the metropolitan area is Kingsford-Smith Airport, one of the world's oldest continually operating airports. Established in 1906, Central station, the largest and busiest railway station in the state, is the main hub of the city's rail network; the first people to inhabit the area now known as Sydney were indigenous Australians having migrated from northern Australia and before that from southeast Asia. Radiocarbon dating suggests human activity first started to occur in the Sydney area from around 30,735 years ago. However, numerous Aboriginal stone tools were found in Western Sydney's gravel sediments that were dated from 45,000 to 50,000 years BP, which would indicate that there was human settlement in Sydney earlier than thought; the first meeting between the native people and the British occurred on 29 April 1770 when Lieutenant James Cook landed at Botany Bay on the Kurnell Peninsula and encountered the Gweagal clan.
He noted in his journal that they were somewhat hostile towards the foreign visitors. Cook was not commissioned to start a settlement, he spent a short time collecting food and conducting scientific observations before continuing further north along the east coast of Australia and claiming the new land he had discovered for Britain. Prior to the arrival of the British there were 4,000 to 8,000 native people in Sydney from as many as 29 different clans; the earliest British settlers called the natives Eora people. "Eora" is the term the indigenous population used to explain their origins upon first contact with the British. Its literal meaning is "from this place". Sydney Cove from Port Jackson to Petersham was inhabited by the Cadigal clan; the principal language groups were Darug and Dharawal. The earliest Europeans to visit the area noted that the indigenous people were conducting activities such as camping and fishing, using trees for bark and food, collecting shells, cooking fish. Britain—before that, England—and Ireland had for a long time been sending their convicts across the Atlantic to the American colonies.
That trade was ended with the Declaration of Independence by the United States in 1776. Britain decided in 1786 to found a new penal outpost in the territory discovered by Cook some 16 years ear
Atlanta is the capital of, the most populous city in, the U. S. state of Georgia. With an estimated 2017 population of 486,290, it is the 38th most-populous city in the United States; the city serves as the cultural and economic center of the Atlanta metropolitan area, home to 5.8 million people and the ninth-largest metropolitan area in the nation. Atlanta is the seat of the most populous county in Georgia. A small portion of the city extends eastward into neighboring DeKalb County. Atlanta was founded as the terminating stop of a major state-sponsored railroad. With rapid expansion, however, it soon became the convergence point between multiple railroads, spurring its rapid growth; the city's name derives from that of the Western and Atlantic Railroad's local depot, signifying the town's growing reputation as a transportation hub. During the American Civil War, the city was entirely burned to the ground in General William T. Sherman's famous March to the Sea. However, the city rose from its ashes and became a national center of commerce and the unofficial capital of the "New South".
During the 1950s and 1960s, Atlanta became a major organizing center of the civil rights movement, with Dr. Martin Luther King Jr. Ralph David Abernathy, many other locals playing major roles in the movement's leadership. During the modern era, Atlanta has attained international prominence as a major air transportation hub, with Hartsfield–Jackson Atlanta International Airport being the world's busiest airport by passenger traffic since 1998. Atlanta is rated as a "beta" world city that exerts a moderate impact on global commerce, research, education, media and entertainment, it ranks in the top twenty among world cities and 10th in the nation with a gross domestic product of $385 billion. Atlanta's economy is considered diverse, with dominant sectors that include transportation, logistics and business services, media operations, medical services, information technology. Atlanta has topographic features that include rolling hills and dense tree coverage, earning it the nickname of "the city in a forest."
Revitalization of Atlanta's neighborhoods spurred by the 1996 Summer Olympics, has intensified in the 21st century, altering the city's demographics, politics and culture. Prior to the arrival of European settlers in north Georgia, Creek Indians inhabited the area. Standing Peachtree, a Creek village where Peachtree Creek flows into the Chattahoochee River, was the closest Indian settlement to what is now Atlanta; as part of the systematic removal of Native Americans from northern Georgia from 1802 to 1825, the Creek were forced to leave the area in 1821, white settlers arrived the following year. In 1836, the Georgia General Assembly voted to build the Western and Atlantic Railroad in order to provide a link between the port of Savannah and the Midwest; the initial route was to run southward from Chattanooga to a terminus east of the Chattahoochee River, which would be linked to Savannah. After engineers surveyed various possible locations for the terminus, the "zero milepost" was driven into the ground in what is now Five Points.
A year the area around the milepost had developed into a settlement, first known as "Terminus", as "Thrasherville" after a local merchant who built homes and a general store in the area. By 1842, the town had six buildings and 30 residents and was renamed "Marthasville" to honor the Governor's daughter. J. Edgar Thomson, Chief Engineer of the Georgia Railroad, suggested the town be renamed Atlanta; the residents approved, the town was incorporated as Atlanta on December 29, 1847. By 1860, Atlanta's population had grown to 9,554. During the American Civil War, the nexus of multiple railroads in Atlanta made the city a hub for the distribution of military supplies. In 1864, the Union Army moved southward following the capture of Chattanooga and began its invasion of north Georgia; the region surrounding Atlanta was the location of several major army battles, culminating with the Battle of Atlanta and a four-month-long siege of the city by the Union Army under the command of General William Tecumseh Sherman.
On September 1, 1864, Confederate General John Bell Hood made the decision to retreat from Atlanta, he ordered the destruction of all public buildings and possible assets that could be of use to the Union Army. On the next day, Mayor James Calhoun surrendered Atlanta to the Union Army, on September 7, Sherman ordered the city's civilian population to evacuate. On November 11, 1864, Sherman prepared for the Union Army's March to the Sea by ordering the destruction of Atlanta's remaining military assets. After the Civil War ended in 1865, Atlanta was rebuilt. Due to the city's superior rail transportation network, the state capital was moved from Milledgeville to Atlanta in 1868. In the 1880 Census, Atlanta surpassed Savannah as Georgia's largest city. Beginning in the 1880s, Henry W. Grady, the editor of the Atlanta Constitution newspaper, promoted Atlanta to potential investors as a city of the "New South" that would be based upon a modern economy and less reliant on agriculture. By 1885, the founding of the Georgia School of Technology and the Atlanta University Center had established Atlanta as a center for higher education.
In 1895, Atlanta hosted the Cotton States and International Exposition, which attracted nearly 800,000 attendees and promoted the New South's development to the world. During the first decades of the 20th century, Atlanta experienced a period of unprecedented growth. In three decades' time, Atlanta's population tripled as the city limits expanded to include nearby streetcar suburbs; the city's skyline emerged with the construction of the
Monaco the Principality of Monaco, is a sovereign city-state and microstate on the French Riviera in Western Europe. France borders the country on three sides. Monaco has an area of 2.020 km2, making it the second-smallest country in the world after the Vatican. Its population was about 38,400 based on the last census of 2016. With 19,009 inhabitants per km², it is the most densely-populated sovereign state in the world. Monaco has a land border of 5.47 km, a coastline of 3.83 km, a width that varies between 1,700 and 349 m. The highest point in the country is a narrow pathway named Chemin des Révoires on the slopes of Mont Agel, in the Les Révoires Ward, 161 metres above sea level. Monaco's most populous Quartier is Monte Carlo and the most populous Ward is Larvotto/Bas Moulins. Through land reclamation, Monaco's land mass has expanded by 20 percent. Monaco is known as a playground for the famous, due to its tax laws. In 2014, it was noted. Monaco is a principality governed under a form of constitutional monarchy, with Prince Albert II as head of state.
Although Prince Albert II is a constitutional monarch, he wields immense political power. The House of Grimaldi has ruled Monaco, with brief interruptions, since 1297; the official language is French, but Monégasque and English are spoken and understood. The state's sovereignty was recognized by the Franco-Monegasque Treaty of 1861, with Monaco becoming a full United Nations voting member in 1993. Despite Monaco's independence and separate foreign policy, its defense is the responsibility of France. However, Monaco does maintain two small military units. Economic development was spurred in the late 19th century with the opening of the country's first casino, Monte Carlo, a railway connection to Paris. Since Monaco's mild climate and gambling facilities have contributed to the principality's status as a tourist destination and recreation centre for the rich. In more recent years, Monaco has become a major banking centre and has sought to diversify its economy into the services sector and small, high-value-added, non-polluting industries.
The state has no income tax, low business taxes, is well known for being a tax haven. It is the host of the annual street circuit motor race Monaco Grand Prix, one of the original Grands Prix of Formula One; the principality has a club football team. Monaco is not formally a part of the European Union, but it participates in certain EU policies, including customs and border controls. Through its relationship with France, Monaco uses the euro as its sole currency. Monaco joined the Council of Europe in 2004, it is a member of the Organisation Internationale de la Francophonie. Monaco's name comes from the nearby 6th-century BC Phocaean Greek colony. Referred to by the Ligurians as Monoikos, from the Greek "μόνοικος", "single house", from "μόνος" "alone, single" + "οἶκος" "house", which bears the sense of a people either settled in a "single habitation" or of "living apart" from others. According to an ancient myth, Hercules passed through the Monaco area and turned away the previous gods; as a result, a temple was constructed there, the temple of Hercules Monoikos.
Because the only temple of this area was the "House" of Hercules, the city was called Monoikos. It ended up in the hands of the Holy Roman Empire. An ousted branch of a Genoese family, the Grimaldi, contested it for a hundred years before gaining control. Though the Republic of Genoa would last until the 19th century, they allowed the Grimaldi family to keep Monaco, both France and Spain left it alone for hundreds of years. France did not annex it until the French Revolution, but after the defeat of Napoleon it was put under the care of the Kingdom of Sardinia. In the 19th century, when Sardinia became a part of Italy, the region came under French influence again but France allowed it to remain independent. Like France, Monaco was overrun by the Axis powers during the Second World War and for a short time was administered by Italy the Third Reich, before being liberated. Although the occupation lasted for just a short time, it meant the deportation of the Jewish population and execution of several resistance members from Monaco.
Since Monaco has been independent. It has taken some steps towards integration with the European Union. Following a land grant from Emperor Henry VI in 1191, Monaco was refounded in 1215 as a colony of Genoa. Monaco was first ruled by a member of the House of Grimaldi in 1297, when Francesco Grimaldi, known as "Il Malizia", his men captured the fortress protecting the Rock of Monaco while dressed as Franciscan monks—a monaco in Italian, although this is a coincidence as the area was known by this name. Francesco, was evicted only a few years afterwards by the Genoese forces, the struggle over "the Rock" continued for another century; the Grimaldi family was Genoese and the struggle was something of a family feud. However, the Genoese became engaged in other conflicts, in the late 1300s Genoa became involved in a conflict with the Crown of Aragon over Corsica; the Crown of Aragon became a part of Spain through marriage and other parts drifted into various pieces of other