MercoPress. South Atlantic News Agency

Monaco's H.S.H. Prince Rainier III dies

Prince Rainier III of Monaco, whose marriage to American film star Grace Kelly brought elegance and glamour to one of Europe's oldest dynasties has died aged 81.

He died of heart, lung and kidney failure at 6.30 a.m. local time (12.30 a.m. ET) Wednesday, at the hospital where he has been treated for several weeks, a Royal Palace official said.

"This is a time for grief, and all of us here feel orphans as he has molded the principality of Monaco with his outstanding personality during this 56 years of his rein," the spokesman said in a recorded statement.

Prince Rainier was one of the longest serving monarchs in the world, of one of the smallest countries in the world.

He is given most of the credit for putting and keeping his tiny principality on the map. Monaco, less than a square mile in area, has been in Grimaldi family hands for more than seven centuries, but it was only when Rainier took the throne in 1949 that the real myth and money making began.

At first the dashing young prince used the reflected glamour of the French Riviera to attract growing numbers of tourists to his casino and hotels.

But it was his whirlwind courtship and eventual marriage to American movie actress Grace Kelly that gave Monaco the glittering image that continues to draw in cruise liners full of visitors.

Her Hollywood connections made Monaco a mandatory stop for the movie crowd, especially in spring when heading for the nearby film festival at Cannes.

Prince Rainier, not always comfortable in public, and worked behind the scenes to burnish and benefit from Monaco's glittering image. He fought to keep Monaco independent from France and to preserve its status as a tax haven.

In 1982 the Monaco's magic came to an end for Prince Rainier. The car carrying Princess Grace plummeted off one of the country's winding roads, and the next day she was dead.

Rainier compensated for his loss by throwing himself into his business interests, concentrating on preparing his son Albert to take over the complexities of running the principality. But Albert has never married.

Prince Albert now takes power in Monaco, but because he has no children, it seems certain that the line of succession will pass to Caroline's children.