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
Danish Parliament:
elections last held on 12 December 1990 (next to be held by December
1994); results - percent 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
Judicial branch:
none
Political parties and leaders:
three-party ruling coalition:
Social Democratic Party, Marita PETERSEN; Republican Party, Signer
HANSEN; Home Rule Party, Hilmar KASS
opposition:
Cooperation Coalition Party, Pauli ELLEFSEN; Progressive and Fishing
Industry Party-Christian People's Party (PFIP-CPP), leader NA;
Progress Party, leader NA; People's Party, Jogvan SUND-STEIN
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
policies, including introducing a 20% value-adde