Portugal is a country located in southwestern Europe on the Iberian Peninsula. It has a total area of 92,090 km2 and is bordered by Spain. Portugal includes a mainland as well as the autonomous regions of the Azores and Madeira. During the 15th and 16th centuries, Portugal established the first global colonial empire and was a major world power, with possessions in Africa, Asia, and South America. Portugal transitioned to a parliamentary democracy in 1974 after overthrowing its dictatorship. It has been a member of the European Union since 1986 and uses the euro currency. The capital and largest city of Portugal is Lisbon.