The currentmayor isAlberto Ruiz-Gallardónfrom the center-rightPeople's Party. He has been in office since 2003, when he left thePresidency of theAutonomous Community of Madridand stood as the candidate to replace outgoingmayor José María Álvarez del Manzano, also from the PP. In the last local elections of 2007, Ruiz-Gallardón increased the PP majority in the City Council to 34 seats out of 57, taking 55.5% of the popular vote and winning in all but two districts.As the capital, Madrid is a city of cultural and political importance. It is also the thirdEuropean economic centre, and its international airport atBarajasis the largest in Spain.Due to itseconomic output,standard of living, andmarketsize, Madrid is consideredthe major financialcenter of theIberian Peninsula; it hosts the head offices of the vastmajority of the major Spanish companies, as well as the headquarters of three of theworld's 100 largest companies (Telefónica,Repsol-YPF,Endesa).
While Madrid possesses a modern infrastructure, it has preserved the look and feel of many of its historic neighborhoods and streets. Its landmarks include the hugeRoyalPalace of Madrid; theTeatro Real(Royal theatre) with its restored 1850 Opera House;theBuen Retiro park , founded in 1631; the imposing 19th-century National Library building (founded in 1712) containing some of Spain's historical archives; anarchaeological museumof international reputation; and three superb art museums:Prado Museum, which hosts one of the finest art collections in the world, theMuseo Nacional Centro de Arte Reina Sofía, a museum of modern art, and theThyssen-Bornemisza Museum, housed in the renovated Villahermosa Palace.
The population of the city is roughly 3.2 million (December 2005), while the estimatedurban area population is 5.1 million. The entire population of the Madridmetropolitanarea(urban area and suburbs) is calculated to be 5.84 million. The city spans a total of 607 km² (234sq mi).
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