Switzerland is a central/western European country of some 7.6 million people. In an area of 42, 290 square kilometers, Switzerland is bounded on the west by France, on the south by Italy, on the north by Germany and on the west by Austria and Liechtenstein. Switzerland is a federal republic consisting of 26 cantons and is governed by a constitution that was originally adopted in 1848. Long considered a neutral country, Switzerland has seen its sovereignty and neutrality maintained by the major European powers, and the country was not involved in either of the two World Wars. For much of the 20th century, Switzerland was the wealthiest country in Europe by a considerable margin. Switzerland is a peaceful, prosperous, and stable modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP larger than that of the big Western European economies. The Swiss in recent years have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness. Switzerland remains a safehaven for investors, because it has maintained a degree of bank secrecy and has kept up the franc's long-term external value. Reflecting the anemic economic conditions of Europe, GDP growth stagnated during the 2001-03 period, improved during 2004-05 to 1.8% annually and to 2.9% in 2006. Even so, unemployment has remained at less than half the EU average. The World Economic Forum's Global Competitiveness Report currently ranks Switzerland's economy as the second most competitive in the world.