Faroe Islands a reaction to the growing self-government and independence movements, Denmark finally granted the Faroe Islands home-rule with a high degree of local autonomy on 30 March 1948. In 1973 the Faroe Islands declined to join Denmark in entering the European Economic Community (later absorbed into the European Union). The islands experienced considerable economic difficulties following the collapse of the fishing industry in the early 1990s, but have since made efforts to diversify the economy. Support for independence has grown and is the objective of the Republican Party. The Faroe Islands are an island group consisting of 18 major islands (and
Culture of the Faroe Islands Eystanstevna is always held in Runavík, but the boat race is only held there every second year (even years), odd years the regatta is held in Fuglafjørður at the Varmakelda Festival (Varmakeldustevna). Swimming is a quite popular sport in the Faroe Islands. The Faroese freestyle swimmer Pál Joensen is the sportsperson of the Faroe Islands with the best international result for the country, a bronze medal at the 2012 FINA World Swimming Championships. In July 2011 he qualified for the finals in the men's 800 meters and 1500 meters freestyle at the 2011 World Aquatics Championships in Shanghai. He placed