Party, and People's Party

Legislative branch:
unicameral Faroese Parliament or Logting (32 seats; members are
elected by popular vote on a proportional basis from the seven
constituencies to serve four-year terms)
elections: last held 20 January 2004 (next to be held no later than
January 2008)
election results: percent of vote by party - Union Party 23.7%,
Social Democrats 21.8%, Republican Party 21.7%, People's Party
20.6%, Center Party 5.2%, Independence Party 4.6%; seats by party -
Union Party 7, Social Democrats 7, Republican Party 8, People's
Party 7, Center Party 2, Independence Party 1
note: election of 2 seats to the Danish Parliament was last held on
8 February 2005 (next to be held February 2009); results - percent
of vote by party - NA; seats by party - Republican Party 1, People's
Party 1

Judicial branch:
none

Political parties and leaders:
Center Party [Jenis A. RANA]; Independence Party [Kari P.
HOJGAARD]; People's Party [Anfinn KALLSBERG]; Republican Party
[Hogni HOYDAL]; Social Democratic Party [Joannes EIDESGAARD]; Union
Party [Kaj Oeo JOHANNESEN]

Political pressure groups and leaders:
NA

International organization participation:
IMO (associate), NC, NIB, UPU

Diplomatic representation in the US:
none (self-governing overseas administrative division of Denmark)

Diplomatic representation from the US:
none (self-governing overseas administrative division of Denmark)

Flag description:
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)

Economy Faroe Islands

Economy - overview:
The Faroese economy has had a strong performance since 1994, mostly
as a result of increasing fish landings and high and stable export
prices. Unemployment is minimal and there are signs of labor
shortages in several sectors. The positive economic development has
helped the Faroese Home Rule Government produce increasing budget
surpluses, which in turn has helped to reduce the large public debt,
most of it owed to Denmark. However, the total dependence on fishing
makes the Faroese economy extremely vulnerable, and the present
fishing efforts appear in excess of what is a sustainable level of
fishing in the long term. Oil finds close to the Faroese area give
hope for deposits in the immediate Faroese