Spai is a member state of the European Union located in southwestern Europe on the Iberian Peninsula. Its mainland is bordered to the south and east by the Mediterranean Sea except for a small land boundary with the British Overseas Territory of Gibraltar; to the north by France, Andorra, and the Bay of Biscay; and to the northwest and west by the Atlantic Ocean and Portugal. Spanish territory also includes the Balearic Islands in the Mediterranean, the Canary Islands in the Atlantic Ocean off the African coast, and two autonomous cities in North Africa, Ceuta and Melilla, that border Morocco. With an area of 504,030 km², Spain is the second largest country in Western Europe and the European Union after France. Since January 1, 2010, Spain has held the Presidency of the Council of the European Union. Because of its location, the territory of Spain was subject to many external influences, often simultaneously, since prehistoric times and through the dawn of Spain as a country. Conversely, the country itself has been an important source of influence to other regions, chiefly during the Modern Era, when it became a global empire that has left a legacy of over 400 million Spanish speakers today, making it the world's second most spoken first language. Spain is a democracy organised in the form of a parliamentary government under a constitutional monarchy. It is a developed country with the ninth or tenth largest economy in the world by nominal GDP, and very high living standards (15th highest Human Development Index), including the seventeenth-highest quality of life index rating in the world.[citation needed] It is a member of the United Nations, European Union, NATO, OECD, and WTO.