Madrid (pronounced: “mah-DRID” or /məˈdrɪd/) is the capital and largest city of Spain. Madrid is in the middle of Spain, in the Community of Madrid. The Community is a large area that includes the city as well as small towns and villages outside the city. 7 million people live in the Community. More than 3 million live in the city itself. It is the largest city of Spain and, at 655 m (2,100 ft) above sea level, the second highest capital in Europe (after the Andorran capital Andorra la Vella). It is the third largest city in the European Union. As it is the capital city, Madrid is where the monarch lives and also where the government meets. Madrid is the financial centre of Spain. Many large businesses have their main offices there. It has four important footballs teams, Real Madrid, Atlético Madrid, Getafe, and Rayo Vallecano. People who live in Madrid are called madrileños. 