The Republic of Iceland, Lýðveldið Ísland, is a European parliamentary republic. The population in 2007 was 319,756, of which 93% were Icelandic. The capital, Reykjavík, is in the west of the the country. Iceland's GDP in 2007 was $12.274 billion ($39,167 per capital). The country achieved home rule on February 1, 1904; sovereignty on December 1, 1918 and independence from Denmark on June 17, 1944. The currency is the króna.