The Constitution of Denmark was signed on 5 June 1849, ending the absolute monarchy, which had begun in 1660. It establishes a constitutional monarchy organised as a parliamentary democracy. The government and national parliament are seated in Copenhagen, the nation's capital, largest city, and main commercial centre. Denmark exercises hegemonic influence in the Danish Realm, devolving powers to handle internal affairs. Home rule was established in the Faroe Islands in 1948 and in Greenland in 1979; the latter obtained further autonomy in 2009. In 1973, Denmark, together with Greenland but not the Faroes, became a member of what is now the European Union in 1973, but negotiated certain opt-outs;, such as retaining its own currency, the krone.