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
History of Latvia couple of months was the virtual capital of Latvians. Iskolat moved to ban the Provisional Council in December, 1917. On January 5, 1918, during the only meeting of democratically elected Constituent Assembly of Russia, which was abolished by Bolsheviks, Latvian deputy Jānis Goldmanis, the initiator in 1915 of creation of Latvian Riflemen units, read a declaration of separation of Latvia from Russia. On its second meeting, which was held in Petrograd, the Latvian National Council on January 30, 1918 declared that Latvia should be an independent, democratic republic, uniting Latvian regions Kurzeme (which includes Zemgale), Vidzeme and Latgale. On March