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International Business Times UK
International Business Times UK
World
Shyna Mae Deang

Vatican City Explained: History, Wealth, and How It Became The Smallest Country in the World

The upcoming election of the next Pope has captured worldwide interest, with several prominent cardinals being closely watched. Alongside traditional prayers for the Holy Spirit's guidance, prediction markets are also tracking potential frontrunners. (Credit: Pixabay)

At just 0.49 square kilometres, Vatican City is the world's smallest independent state, yet it wields a global spiritual influence unlike any other. Governed by the Pope and home to the Roman Catholic Church's central administration, the Vatican is not just a religious hub—it's a political, economic and historical powerhouse.

Founded in 1929 through the Lateran Treaty between the Holy See and Italy, the Vatican operates as a unique blend of monarchy, theocracy and sovereign state. Despite its size, it functions with its own legal system, financial operations and even diplomatic corps.

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