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The of Monaco, Prince Albert II, announced that plans for his state to expand into the sea were cancelled due to the . Monaco is the world's most densely populated state. With almost no land left to build upon, plans to build an artificial peninsula were well underway. Two top architects, Norman Foster of and Daniel Liebeskind of the US were competing for the chance to lead the multi-billion-dollar project. The winner was supposed to be announced in . While financial times were for the cancellation, the prince stated that there were also environmental concerns.
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