Capital of Spain since 1562, Madrid is located in center of the Iberian Peninsula on the banks of the river Manzanares. Because of this central location, the city has been the political and cultural center of Spain for centuries. Many neighborhoods, buildings and streets have preserved their historic character. Madrid is also a city of great art, most famous for the three museums of the Golden Triangle of Art, the Prado museum being one of the best known. Today Madrid is a lively metropolis. Benefiting from increasing prosperity since the 1980s, the city has consolidated its position as an important economic, cultural, industrial, educational, and technological center within the European Union.