Falkland Islands
The Falkland Islands (; , ) is an archipelago in the South Atlantic Ocean on the Patagonian Shelf. The principal islands are about east of South America's southern Patagonian coast, and about from the northern tip of the Antarctic Peninsula, at a latitude of about 52°S. The archipelago, with an area of , comprises East Falkland, West Falkland and 776 smaller islands. As a British overseas territory, the Falklands have internal self-governance, and the United Kingdom takes responsibility for their defence and foreign affairs. The Falkland Islands' capital is Stanley on East Falkland.
Economy of the Falkland Islands
The constitution requires the governor of the islands to seek the approval of a [British] secretary of state before assenting to any bill that affects ""the currency of the Falkland Islands or relating to the issue of banknotes"" or any bill that establishes ""any banking association or altering the constitution, rights or duties of any such association"". These restrictions effectively give the British Government the ability to prevent the island's government from declaring the islands to be a tax haven or from establishing a central bank.