Prince Rainier of Monaco buys villa in Rome

Jul. 07, 1962 - Prince Rainier of Monaco seeks refuge in Rome from President de Gaulle? Prince Rainier has bought a new villa in Rome and is spending 50, 000 refurbishing it. Ostensibly it is for a new legation, but well-informed sources reveal that the Prince is thinking of abdicating over a struggle with de Gaulle who is determined to end Monaco's tax privileges. From this month, all Monaco residents must register as aliens in France if no new agreement is reached by October 1, Monaco will become a foreign state ringed by customs. Rainier is a Grimaldi of Italian descent, and should France cut off its gas and electricity to Monaco, Italy is likely to guarantee supplies. Photo shows: The villa where Rainier will seek refuge

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