Latvia a liberal economy and its re-orientation toward Western Europe, Latvia is one of the fastest growing economies in the European Union. In 2014, Riga was the European Capital of Culture, the euro was introduced as the currency of the country and a Latvian was named vice-president of the European Commission. In 2015 Latvia held the presidency of Council of the European Union. Big European events have been celebrated in Riga such as the Eurovision Song Contest 2003 and the European Film Awards 2014. On 1 July 2016, Latvia became a member of the OECD. Latvia lies in Northern Europe, on
On the Restoration of Independence of the Republic of Latvia will come in force in the territory of Latvian SSR only if the Supreme Soviet has ratified them and "In question of independence of Latvia" of 15 February 1990, in which the Supreme Soviet condemns declaration "On accession of Latvia to Soviet Union" of 21 July 1940, however none of these explicitly called for secession from the Soviet Union. Secondly it notes Appeal of All-Latvian congress of people deputies of 21 April 1990, which called for restoration of independence. Then it is stated that the Supreme Soviet is acting in accordance with the will of inhabitants of Latvia, which had