Traffic-free and large enough to swallow a crowd of 50,000, one of the most handsome squares in Europe is dominated by a royal statue.

The bronze equestrian statue of Felipe III makes a popular meeting point. The reliefs around the four giant lampposts spell out the history of the plaza. In 1617, under Felipe III, the old square was replaced by this new arena, created to hold everything from bullfights to theatre, festivals to inquisitions. Its inauguration coincided with the beatification of San Isidro, Madrid's patron saint, in 1620, and the spacious balconies have been hired out to spectators ever since.