Madrid is the capital of Spain and the largest city in the Iberian peninsula. It is also the third most populous city in the European Union after Paris and London. Its effect on and politics, as well as its major cultural influence, has ranked Madrid one of the major global cities of the world. Madrid is also the largest city in Spain, as well as in the province and the autonomous community of the same name. It is located on the river Manzanares in the center of the country, between the autonomous communities of Castilla-León and Castilla-La Mancha. Due to its economic output, standard of living, and market size, Madrid is considered one of the major financial centers of the Iberian Peninsula, together with Barcelona and Lisbon. As the capital city of Spain, seat of government, and residence of the Spanish monarch, Madrid is also the political center of Spain. ****************************** As the capital of Spain, Madrid is a city of great cultural and political importance. While Madrid possesses a modern infrastructure, it has preserved the look and feel of many of its historic neighborhoods and streets. Its landmarks include the huge Royal Palace of Madrid; the Teatro Real (Royal theatre) its restored 1850 Opera House, ; the Buen Retiro park, founded in 1631; the imposing 19th-century National Library building (founded in 1712) containing some of Spain's historical archives; an archaeological museum of international reputation; and three superb art museums: Prado Museum, which hosts one of the finest art collections in the world, the Museo Nacional Centro de Arte Reina Sofía, a museum of modern art, and the Thyssen-Bornemisza Museum, housed in the renovated Villahermosa Palace. ***************************** The population of the city was 3.5 million (December 2005), while the estimated urban area population is 5.5 million. The entire population of the Madrid metropolitan area (urban area and suburbs) is calculated to be 5.84 million. The city spans a total of 607 km² (234 square miles). *********************************** Following the restoration of democracy in 1975 and Spain's integration into the European Union, Madrid has played an increasing role in European finances, marking the city as one of the most important European metropolises. The residents of Madrid are called Madrileños, and the current mayor is Alberto Ruiz-Gallardón, of the conservative Partido Popular. ********************************