low taxes have spurred outstanding economic
growth. Shortcomings in banking regulatory oversight have resulted
in concerns about the use of the financial institutions for money
laundering. Liechtenstein has, however, implemented new
anti-money-laundering legislation and recently concluded a Mutual
Legal Assistance Treaty with the US.

Lithuania
Independent between the two World Wars, Lithuania was
annexed by the USSR in 1940. On 11 March 1990, Lithuania became the
first of the Soviet republics to declare its independence, but
Moscow did not recognize this proclamation until September of 1991
(following the abortive coup in Moscow). The last Russian troops
withdrew in 1993. Lithuania subsequently restructured its economy
for integration into Western European institutions; it joined both
NATO and the EU in the spring of 2004.

Luxembourg
Founded in 963, Luxembourg became a grand duchy in 1815
and an independent state under the Netherlands. It lost more than
half of its territory to Belgium in 1839, but gained a larger
measure of autonomy. Full independence was attained in 1867. Overrun
by Germany in both World Wars, it ended its neutrality in 1948 when
it entered into the Benelux Customs Union and when it joined NATO
the following year. In 1957, Luxembourg became one of the six
founding countries of the European Economic Community (later the
European Union), and in 1999 it joined the euro currency area.

Macau
Colonized by the Portuguese in the 16th century, Macau was the
first European settlement in the Far East. Pursuant to an agreement
signed by China and Portugal on 13 April 1987, Macau became the
Macau Special Administrative Region (SAR) of China on 20 December
1999. China has promised that, under its "one country, two systems"
formula, China's socialist economic system will not be practiced in
Macau, and that Macau will enjoy a high degree of autonomy in all
matters except foreign and defense affairs for the next 50 years.

Macedonia
International recognition of Macedonia's independence from
Yugoslavia in 1991 was delayed by Greece's objection to the new
state's use of what it considered a Hellenic name and symbols.
Greece finally lifted its trade blockade in 1995 and the two
countries agreed to normalize relations, although differences over
Macedonia's name remain. The undetermined status of neighboring
Kosovo, implementation of the F