Monaco to be ruled by one of us?

In a never-ending series on my obsession with small nations, from Monaco the news that Crown Prince Albert has taken over the government as regent from his father, Prince Rainier III, due to the latter's ill health.
Monaco is one the more glamorous city states, and there can't be enough of those. Film star princesses such as Grace Kelly, and wild children like Stephanie and Caroline, what would the women's magazines be without them. Really, republicanism is far too drab to get any imagination fired up.
Now the really interesting aspect is the tiny fact that Prince Albert, aged 47, is unmarried. Prince Rainier has changed the Monegasque constitution to allow succession even in the case of no offspring. And the French News even alluded long-standing rumours Albert is a "homosexual".
If you're going to rule a camp kingdom, you might as well be a queen.

Update: His Serene Highness, Prince Rainier III, has died. We're flying the flag half mast.

Update: His Serene Highness, Prince Albert, has a bastard son. So he can't be homosexual, OK.