According to ehistorylib, in 2005, Liechtenstein had a population of approximately 33,000 people with a GDP of $3.9 billion. The economy was heavily reliant on the financial services sector and international trade, which accounted for over 70% of GDP. Unemployment rates were low at around 2%, while poverty levels remained quite low with an estimated 1% of the population living below the poverty line.
Foreign relations in 2005 were strong with Liechtenstein being a member of various international organizations such as the European Free Trade Association (EFTA). In addition, it maintained diplomatic ties with many countries in Europe and North America. It was also an important ally to Switzerland and had close trade ties to other European countries.
Politically, Liechtenstein was a constitutional monarchy during this time period with executive power vested both in the Prince who could appoint ministers responsible for executing policy decisions as well as the Landtag which could pass laws that could be vetoed by the Prince. Furthermore, there were two branches of government: Executive (Prince) and Legislative (Landtag). These branches worked together to ensure that laws were properly enforced throughout the country.
Liechtenstein. According to countryaah, Vaduz is the capital and one of the major cities within the country of Liechtenstein. The ruling Civil Progress Party, the FBP, lost a mandate and lost its majority in the Land Day when elections were held in March. Even the largest opposition party of the Fosterlands Union, VU, lost a mandate while the environmental party Free List went from one to three mandates. The result was that the coalition between the two Conservative parties FBP and VU resurfaced; they ruled together in 1938–97. Prime Minister Otmar Hasler retained his post when the new government was formed in April.
- Also see abbreviationfinder.org for how the acronym LS stands for the country of Liechtenstein and other meanings of this two-letter abbreviation.
After four years of investigation, a commission ruled that Liechtenstein did not steal from Jews or trade stolen goods during World War II. The investigation of six international historians was the result of accusations from the WJC Jewish World Congress. However, the investigators found that Jewish slave laborers had worked on Austrian goods belonging to Liechtenstein’s prince’s family.