ent of vote by party NA; seats - (2 total) Social Democratic 1, People's
Party 1; note - the Faroe Islands elects two representatives to the Danish
Parliament
Faroese Parliament:
last held 17 November 1990 (next to be held November 1994); results - Social
Democratic 27.4%, People's Party 21.9%, Cooperation Coalition Party 18.9%,
Republican Party 14.7%, Home Rule 8.8%, PFIP-CPP 5.9%, other 2.4%; seats -
(32 total) two-party coalition 17 (Social Democratic 10, People's Party 7),
Cooperation Coalition Party 6, Republican Party 4, Home Rule 3, PFIP-CPP 2
Executive branch:
Danish monarch, high commissioner, prime minister, deputy prime minister,
Cabinet (Landsstyri)
Legislative branch:
unicameral Parliament (Lgting)
Judicial branch:
none

*Faroe Islands, Government

Leaders:
Chief of State:
Queen MARGRETHE II (since 14 January 1972), represented by High Commissioner
Bent KLINTE (since NA)
Head of Government:
Prime Minister Marita PETERSEN (since 18 January 1993)
Member of:
none
Diplomatic representation in US:
none (self-governing overseas administrative division of Denmark)
US diplomatic representation:
none (self-governing overseas administrative division of Denmark)
Flag:
white with a red cross outlined in blue that extends to the edges of the
flag; the vertical part of the cross is shifted to the hoist side in the
style of the DANNEBROG (Danish flag)

*Faroe Islands, Economy

Overview:
The Faroese, who have long enjoyed the affluent living standards of the
Danes and other Scandinavians, now must cope with the decline of the
all-important fishing industry and one of the world's heaviest per capita
external debts of nearly $30,000. When the nations of the world extended
their fishing zones to 200 nautical miles in the early 1970s, the Faroese no
longer could continue their traditional long-distance fishing and
subsequently depleted their own nearby fishing areas. The government's tight
controls on fish stocks and its austerity measures have caused a recession,
and subsidy cuts will force nationalization in the fishing industry, which
has already been plagued with bankruptcies. Copenhagen has threatened to
withhold its annual subsidy of $130 million - roughly one-third of the
islands' budget revenues - unless the Faroese make significant efforts to
balance their budget. To this extent the Faroe government is expected to
continue its tough