By the pool of my French house in Menton, I often contemplate the economic consequences of the least-known uprising of Europe’s year of revolutions in 1848. The citizens of Menton and Roquebrune wrested independence from the neighbouring principality of Monaco. The rebellion ended six centuries of Grimaldi rule. The result deprived the state of its agricultural hinterland and cost the Grimaldi dynasty the major part of its revenues.

Prince Florestan hatched a scheme with the entrepreneur, François Blanc, to restore the family fortunes. Blanc built a casino on the hills of Monte Carlo opposite the royal palace, where punters could indulge in games of chance that were illegal in France and many other European states. The venture had a shaky start, but a new railway brought visitors from across the continent. Gambling made the tiny state prosperous.