Spain; Spanish: España, pronounced, officially the Kingdom of Spain (Spanish: Reino de España), is a member state of the European Union located in southwestern Europe on the Iberian Peninsula. <br/> 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. <br/> 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.