In this first episode, director Michael Waldman explores how this extraordinary country operates. He meets everyone from Prince Albert and his staff in the palace to wealthy widow Monika Bacardi, who takes him on a tour in her chauffeur-driven classic Rolls Royce. Waldman then goes trackside with former F1 winner David Coulthard and team owner Eddie Jordan during the Monaco Grand Prix.

This episode goes inside the famous Casino de Monte Carlo, where the present fortunes of Monaco began. Its impressive architecture conjures up an era of exotic glamour, but it no longer provides the vast revenues it once did. They have to work hard to attract the new wealthy, especially from Asia, where the approach to gambling is very different.

This episode discovers just how expensive it is to live in Monaco. Average property prices are around twice as much as in London’s most exclusive district, Mayfair. One of the main reasons for this is that to qualify for official residency in Monaco (and the financial benefits this brings), you have to own or lease a residence, so demand outstrips supply.