The Principality of Andorra, is a sovereign landlocked microstate on the Iberian Peninsula, in the eastern Pyrenees, bordered by France in the north and Spain in the south. Believed to have been created by Charlemagne, Andorra was ruled by the Count of Urgell until 988 when it was transferred to the Diocese of Urgell, and the present principality was formed by a charter in 1278. It is known as a principality as it is a diarchy headed by two Co-Princes: the Catholic Bishop of Urgell in Spain and the President of the Republic of France. Andorra is the sixth-smallest nation in Europe, having an area of 468 square kilometres (181 sq mi) and a population of approximately 77,281