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The population of the Faroe Islands is largely descended from Viking settlers who arrived in the 9th century. The islands have been connected politically to Denmark since the 14th century. A high degree of self government was attained in 1948.
archipelago of 17 inhabited islands and one uninhabited island, and a few uninhabited islets; strategically located along important sea lanes in northeastern Atlantic; precipitous terrain limits habitation to small coastal lowlands
none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark); there are no first-order administrative divisions as defined by the US Government, but there are 34 municipalities
chief of state: Queen MARGRETHE II of Denmark (since 14 January 1972), represented by High Commissioner Birgit KLEIS, chief administrative officer (since 1 November 2001)
head of government:
Prime Minister Kaj Leo JOHANNESSEN (since 26 September 2008)
cabinet:
Landsstyri appointed by the prime minister
elections:
the monarch is hereditary; high commissioner appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition is usually elected prime minister by the Faroese Parliament; election last held 19 January 2008 (next to be held no later than January 2012)
election results:
Joannes EIDESGAARD elected prime minister; governing coalition collapses in September 2008, Kaj Leo JOHANNESSEN becomes Prime Minister
unicameral Faroese Parliament or Logting (33 seats; members are elected by popular vote on a proportional basis from the seven constituencies to serve four-year terms)
elections:
last held 19 January 2008 (next to be held no later than January 2012)
election results:
percent of vote by party - Union Party 21%, Social Democratic Party 19.4%, Republican Party 23.3%, People's Party 20.1%, Center Party 8.4%, Self-Government Party 7.2%, other 0.6%; seats by party - Republican Party 8, Union Party 7, Social Democratic Party 6, People's Party 7, Center Party 3, Independence Party 2
note:election of two seats to the Danish Parliament was last held on 13 November 2007 (next to be held no later than November 2011); results - percent of vote by party - NA; seats by party - Republican Party 1, Union Party 1
Center Party [Jenis A. RANA]; Independence Party [Kari P. HOJGAARD]; People's Party [Jorgen NICLASEN]; Republican Party [Hogni HOYDAL]; Social Democratic Party [Joannes EIDESGAARD]; Self-Government Party [Kari P. HOJGAARD]; Union Party [Kaj Leo JOHANNESEN]
white with a red cross outlined in blue extending to the edges of the flag; the vertical part of the cross is shifted toward the hoist side in the style of the Dannebrog (Danish flag)
The Faroese economy is dependent on fishing, which makes the economy vulnerable to price swings. The sector accounts for 95% of exports and nearly half of GDP. Since 2003 the Faroese economy has picked up as a result of higher prices for fish and for housing. Unemployment is minimal and government finances are relatively sound. Oil finds close to the Islands give hope for economically recoverable deposits, which could eventually lay the basis for a more diversified economy and lessen dependence on Danish economic assistance. Aided by a substantial annual subsidy (about 15% of GDP) from Denmark, the Faroese have a standard of living not far below the Danes and other Scandinavians.
general assessment: good international communications; good domestic facilities
domestic:
digitalization was completed in 1998; both NMT (analog) and GSM (digital) mobile telephone systems are installed
international:
country code - 298; satellite earth stations - 1 Orion; 1 fiber-optic submarine cable to the Shetland Islands, linking the Faroe Islands with Denmark and Iceland; fiber-optic submarine cable connection to Canada-Europe cable
because anticipated offshore hydrocarbon resources have not been realized, earlier Faroese proposals for full independence have been deferred; Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm
The online Factbook is updated bi-weekly. ISSN 1553-8133
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