The Faroes, a self-governing community within the kingdom of Denmark, are situated in the North Atlantic between Iceland and the Shetland Islands. The 17 inhabited islets and reefs have an area of 540 sq. mi. (1,399 sq. km.) and a population of 43,678. Capital: Thorshavn. The principal industries are fishing and grazing. Fish and fish products are exported. ,While it is thought that Irish hermits lived on the islands in the 7th and 8th centuries, the present inhabitants are descended from the 6th century Norse settlers. The Faroes became a Norwegian fief in 1035 and became Danish in 1380 when Norway and Denmark were united. They have ever since remained in Danish possession and were granted self-government (except for an appointed governor-general) with their own legislature, executive and flag in 1948.,, ,The islands were occupied by British troops during World War II, after the German occupation of Denmark.,, Rulers:,,, ,Danish,, Monetary System:,,, ,1 Crone = 100 Ore,,