No crisis in Monaco

Monaco economy growing - Monaco's economy grew by 6.6 per cent last year, according to new gross domestic product figures. It's the second consecutive year of increases - GDP was up 2.1 per cent in 2010 after falling by 11.5 per cent in 2009. The official figure for 2011 is 4.37 billion euros, which is almost back to 2008 levels. The property sector was up by 31 per cent last year, hotels and restaurants grew by 4.5 per cent.