Italy (officially the Italian Republic) is a country located on the Italian Peninsula in Southern Europe and on the two largest islands in the Mediterranean Sea, Sicily and Sardinia. Italy shares its northern, Alpine boundary with France, Switzerland, Austria and Slovenia. The independent states of San Marino and the Vatican City are enclaves within the Italian Peninsula, and Campione d’Italia is an Italian exclave in Switzerland.
Today, Italy is a developed country with the eighth-highest quality of life index rating in the world. It is a founding member of what is now the European Union, having signed the Treaty of Rome in 1957, and it is a founding member of the North Atlantic Treaty Organization (NATO). It is a member of the G8, having the world’s seventh-largest nominal GDP, and is also a member state of the Organisation for Economic Co-operation and Development (OECD), the World Trade Organization (WTO), the Council of Europe, the Western European Union, and the Central European Initiative. Italy is a Schengen state. It has the world’s seventh-largest defence budget and shares NATO’s nuclear weapons. On 1 January 2007, Italy began a two-year term as a non-permanent member of the United Nations Security Council.