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Based on colleagues working in Monaco (both locals and commuters), it was not a friendly agreement at all (since Monaco is just losing) - it was basically give us all your French banking / employment data or we will fucking invade you with army and end your little kingdom for good. French were/are not some nice baguette eating and coffee sipping polite 'bonjour monsieur' artists that visiting Paris as tourist may make you believe, rather colonialists to the core (at least people in government with actual power). And yes French treatment of even modestly wealthy is straight out of communist guidebook - vilify, tax to hell, make up laws that even break european treaties but ignore european courts rulings on those, blame on rich all mismanagement of vast (not only social) state wealth on population deemed lazy even by french citizens themselves (I have tons of french colleagues and none hired french workers when doing some home reconstruction and they were clear why). There are various protections in Monaco for local populations, companies have quotas on minimum mandatory hires from local population, so sometimes clueless people are hired to just sit on chair to get the numbers going, earning massive salaries (for France and western Europe at least). But its still well worth for the companies (mostly banks), some scenes are pretty surreal - 90+ senile guy barely coherent coming to the bank branch, accompanied by few 20-something models, taking literally full shopping bag worth of cash and heading right back to casino or yacht for next party. Definitely old rich money's place, overranked in my opinion but its mainly tax haven so thats not relevant. |
Based on your comment I'd say you're working in the banking sector in Geneva. Just be aware that your French colleagues are extremely biased.