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In AD 850, the Vikings established their parliament in Tórshavn, a name which translates as "Thor's harbor." It was named after Thor, the god of thunder and lightning in Norse mythology. The town became a center of trade for the island, and in fact was designated as the only legal place for the islanders to sell and buy products. This trade monopoly was abolished in 1856. Today it is the capital and largest city of the Faroe Islands, with fish-processing plants, a shipyard, and woolen products making up. It is considered to be one of the oldest capitals in Northern Europe.