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 2. To proclaim the declaration "On accession of Latvia to Soviet Union" of 21 July 1940, to be void from the moment of adoption. 3. To re-establish the authority of the Constitution of Latvia. The official name of the state of Latvia is the Republic of Latvia, in short Latvia. 4. To suspend the Constitution of Latvia until a new edition is adopted, except for the articles, which in accordance with the 77 article of the Constitution can only be amended if submitted to a national referendum: 1. "Latvia is an independent democratic republic."2. "The sovereign power of the State