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The United Kingdom, officially United Kingdom of Great Britain and Northern Ireland is an independent state of Western Europe created in 1707, consisting of Great Britain (England, Scotland and Country Wales) and Northern Ireland. The greater part of its territory is located near the northwest coast of continental Europe and is surrounded by the North Sea, Channel, Irish Sea and Atlantic Ocean. The United Kingdom also possesses fourteen territories overseas (British territory overseas), vestiges of the British Empire, which at its peak brought together a quarter of world population and extended in territories covering a quarter of the landmass, the largest empire in history. First parliamentary democracy, the political system of the United Kingdom is based on a constitutional monarchy, one of the oldest in the world. The political capital is London, the first urban area of Great Britain and, according to the criteria of the European Union (EU). London is also the first financial center of Europe and a major international business centers. Birthplace of the Industrial Revolution, the United Kingdom is currently the sixth largest economy by GDP and seventh by the parity of purchasing power The United Kingdom is a nuclear power with the fourth defense budget is greater. EU member since 1973, the United Kingdom is also one of the five permanent members of UN Security and is part of the Group of Eight (G8), Organization for Economic Cooperation and Development ( OECD) and Commonwealth of Nations. His influence is still alive in language, culture and legal systems of many of its former colonies.