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Day: 19 April 2021

Finance specialists unite against corruption in Monaco

by: Cassandra Tanti
19/04/2021

More than 150 public and private professionals have gathered to hear a progress report on Monaco’s fight against money laundering and corruption, and how the Principality is developing its compliance with European standards.
The meeting on 15th April brought together the Director of SICCFIN and head of the Monegasque delegation to the Moneyval committee Michel Hunault, Finance Minister Jean Castellini, President of the National Council Stéphane Valeri and Secretary of State for Justice Robert Gelli. Joining them at the Grimaldi Forum were members of the public and private sectors and the main leaders of the Principality’s economic forces.
It demonstrated the willingness of all players in the Monegasque economy to meet the requirements of international standards, including FATF Recommendations and EU Directives, in the fight against money laundering, the financing of terrorism and corruption.
The 2012 FATF Recommendations oblige countries to identify, assess and understand the money laundering and terrorist financing risks they face and to adapt their systems accordingly.
When the risks of money laundering and terrorist financing are correctly understood, national authorities can then apply AML/CFT measures according to these risks. This risk-based approach is a central element of the FATF standards.
The progress report will be followed by the dissemination of guidelines and practical guides, eagerly awaited by professionals, as well as the development of a national AML/CFT strategy.
In his speech, National Council President Stéphane Valeri said that “the attachment of the National Council to the reputation of the Principality (…) is a pledge of confidence and credibility on the international scene”. However, he added that “the National Council will remain vigilant, within the framework of the adaptation of each of the European directives into Monegasque law, to defend our uniqueness, in the interest of Monaco, while bringing it into conformity with certain European standards.”
 
Photo from left to right: Michel Hunault – Director of SICCFIN (at the desk), Magali Vercesi – Secretary General of CCAF, Stéphane Valeri – President of the National Council, Jean Castellini – Minister of Finance and Economy, and Robert Gelli – Secretary of State for Justice, Director of Judicial Services. By Michael Alesi / Government Communication Department
 
 

When will border with America reopen?

by: Cassandra Tanti
19/04/2021

France plans to open its borders to vaccinated Americans as soon as this summer, French President Emmanuel Macron has told US media.
The French president was speaking in English on the American network CBS News on Sunday, saying discussions on how to resume international travel between the US and France had already started with the White House.
“We will progressively lift the restrictions at the beginning of May, which means that we will organise in the summertime with our professionals in France for French European citizens, but as well for American citizens,” said Macron. “So, we are working hard to propose a very concrete solution, especially for U.S. citizens who are vaccinated, so with a special pass, I would say.”
The president was referring to the European Union’s plans for a digital green certificate that will store information about whether a person has tested negative for Covid, has been vaccinated or has recovered from the disease. The EU believes this digital pass will help open the borders between countries, restore travel routes and kickstart economies.
Meanwhile, France will impose a 10-day mandatory quarantine on those arriving from Argentina, Brazil, Chile and South Africa over concerns about variants of the coronavirus stemming from the region, the office of Prime Minister Jean Castex announced Saturday.
Flights from Brazil had earlier been suspended until at least next Friday over concerns about the P1 variant of the coronavirus, which is more contagious than the original strain and can also reinfect those who have had the original virus.
 
Photo by Jan Rosolino on Unsplash
 
 

Leclerc “frustrated” at 4th place finish

by: Stephanie Horsman
19/04/2021

Charles Leclerc says he was disappointed to not take the podium in Imola, one of Ferarri’s home courses, on Sunday in a race that saw the king, Lewis Hamilton, dethroned and Max Verstappen take the top spot.
The Emilia Romagna Grand Prix in Imola on Sunday was no picnic. Starting conditions were soggy and a chilling accident occurred between Valtteri Bottas and George Russell where they both came out unharmed but angrily laid blame squarely on the other.
Charles Leclerc started off the race well as Ferrari had anticipated the wet start and tweaked their set-up to favour the conditions. This worked well for him as he made his way to second place with a good lead over Lando Norris and Sergio Perez, but that went up in smoke after the crash.
The rain stopped, the track dried out and the field closed up, leaving Ferrari’s wet set-up ineffective on the straights. Leclerc still held on to fourth place, whilst new teammate Carlos Sainz came in fifth, just behind him.
“I’m happy with the race, but at the same time a little bit frustrated,” Leclerc said. “The first part of the race, we were very competitive and everything looked good. Then with the red flag, all the cars were reshuffled, and it repacked everyone. And then we started to be a bit vulnerable in the straights. I was the first of the pack at first, struggled to defend on Lando, and then on Lewis a bit later.
“We should be very happy about this so yes, I’m happy with how things are going, we need to keep pushing and hopefully, we’ll be fighting further very, very soon.”
After the accident was cleared, the rolling restart could have been an opportunity for Leclerc to pass leader Verstappen, which in the end he decided against.
When asked after the race why he didn’t take the chance, he replied, “I considered it at one point, but at the same time I backed off. I think looking back at it, it was the right choice because I think he always had one wheel on the track.”
In the end, Verstappen held onto his lead, followed by Lewis Hamilton in second and Lando Norris third.
The next race on the Grand Prix schedule is 2nd May in Portugal at the Heineken Grande Premio de Portugal.
 
Photo credit: @Scuderia Ferrari Press Office
 
 

The family legacy continues

by: Stephanie Horsman
19/04/2021

Stefanos Tsitsipas has won his first Monte-Carlo Open and ATP Masters 1000, claiming the day after defeating Andrey Rublev in a 6-3, 6-3 victory on his home turf.
After slaying the British giant slayer Dan Evans on Saturday 6-2, 6-1, Stefanos Tsitsipas went on to crush sixth ranked Andrey Rublev in the finals in a mere 71 minutes.
“I had an unbelievable week in Monte-Carlo,” Tsitsipas said in his post-match interview. “I can’t describe my feelings right now. I am overwhelmed by so many different emotions and nostalgia. It is incredible that I am able to be in the position that I am. We both deserved to be in the final. We put on an amazing fight and an amazing show… I would consider it as the [best] week of my life so far.”
The 23-year-old Greek lost to Rublev in the semi-finals in Rotterdam last month but took the opportunity to pay him back at the weekend. Claiming early breaks in each set, he was relentless in his play in Monaco.
The two finalists of the Open now sit in the top two positions of the 2021 leader board and are the only players to have 20 or more victories this season. Rublev is in the number one position with a 24-5 win-loss record and Tsitsipas with a 22-5 record.
“I knew that he was going to be a very difficult opponent to face. There were a lot of nerves coming into that match,” said Tsitsipas. “[We] always want to bring the best out of [ourselves] when facing each other. Playing Andrey was a very difficult thing to do today, also considering that it was a final. There is extra stress and extra importance in the match that we had to play. [I am] definitely proud of the way I managed to behave and be out on the court today.”
He went on to say, “The clay court season couldn’t have started better. It is the best thing winning my first Masters 1000 and it is even more special doing it here on home soil in Monte-Carlo and doing it on clay, which is my favourite surface.”
Tsitsipas’ mother, Julia Salnikova, won the junior title at the Monte-Carlo Open in 1981.
“[To share] this is incredible. [The] first time I walked in that club, the Monte-Carlo Country Cub, with my mom, I think that was when I was six years old. She showed me her name up there. I remember seeing it for the first time. I was stunned. I was like, ‘Wow. That is really cool.’ How cool is that?” said Tsitsipas.
 
PHOTO VALERY HACHE, AFP
 
 
 

Red and Whites shut out Bordeaux

by: Stephanie Horsman
19/04/2021

AS Monaco recorded their 21st win this season after crushing the Girondins de Bordeaux three to nil, pushing them ever closer to a podium win.
The match started with a flurry as the Red and Whites came out swinging in their game against Bordeaux on Sunday. The first clear shot on goal came a quarter hour into play when Aleksandr Golovin made the attempt but was thwarted by Benoît Costil.
At 22 minutes in, the Girondins suffered the loss of their team captain, Laurent Koscielny, who went out due to injury.
Just before the half hour mark, Kevin Volland opened scoring with a beauty of a shot, giving him his 15th goal in Ligue 1 this season. Bordeaux tried to play catch up before the half, but the teams went into the locker room with Monaco ahead one to nil.
After the break, the next bit of action came almost immediately when Gelson Martins knocked one over the top, doubling the score for AS Monaco.
Golovin almost added another goal to the score at 55 minutes in, but the Bordeaux goalkeeper saw it coming. The Girondins struck back in the 65th but came up short as Benjamin Lecomte had things well in hand.
By this point, it was fairly clear that Monaco was in charge and, just for good measure, Stevan Jovetić made the third and final goal just as the end of the game drew in from a header given to him by Sofiane Diop. The final score thus sat at 3 to 0 for Monaco.
“Bordeaux were expecting some mistakes from us,” said Coach Niko Kovac. “I think we dominated our opponent well in the first half in particular. We created a lot of opportunities, and we managed to score. In the second half, after the second goal, we dropped deeper and played with a little more caution. I would like to take my hat off to my players who have performed well. We did our job and 4th place is now sealed.”
The coach is also starting to look to the future with greater optimism.
“With a place in the Europa League now having been acquired, things have changed. As I had said previously, if we were able to achieve this goal, we could aim higher. There are many possibilities. We can finish on the podium, finish 2nd or finish 1st. We’ll see. There are tough opponents that we will have to face like Lyon, Rennes or Lens. If we are able to beat these teams, we will be able to look higher up the table.”
The Red and Whites return on Wednesday where they square off against Olympique Lyonnais in the Coupe de France quarterfinals.
 
Monaco Life with AS Monaco press release, photo by AS Monaco