 The country plays a prominent role in regional and global economic, military, cultural and diplomatic affairs; it is both a regional power and a great power, and is ranked the world's eighth most-powerful military.Italy is a founding and leading member of the European Union and a member of numerous international institutions, including the UN, NATO, the OECD, the OSCE, the WTO, the G7, the G20, the Union for the Mediterranean, the Council of Europe, Uniting for Consensus, the Schengen Area and many more.The country has long been a global centre of art, music, literature, philosophy, science and technology, and fashion, and has greatly influenced and contributed to diverse fields including cinema, cuisine, sports, jurisprudence, banking and business.