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
Municipalities of the Faroe Islands (FKF). Hagstova Føroya - information from 2007.<br> Tórshavn is both the capital of the Streymoy region and its own region, the latter being identical with Tórshavn municipality, but not including the area of the former Kollafjarðar kommuna.<br> Klaksvík both capital of the Norðoyggjar region as well of its own region, which constitute of the two municipalities Klaksvík and Hvannasund. Municipalities of the Faroe Islands The Faroe Islands are administratively divided in 30 municipalities ("kommunur"), with about 120 cities and villages. Until December 31, 2008, there were 34 municipalities, and until December 31, 2004, there were 48 municipalities. In the coming