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 established in Latvia and it should join the Soviet Union and that results of the election were falsified. The declaration observes that the People's Saeima was formed by misleading the people and therefore did not express the sovereign will of people of Latvia. It also notes that the People's Saeima had no right to change the political system in Latvia and liquidate its sovereignty as only the people have such right and the issue was never submitted to a national referendum. Therefore the Declaration rules that, in accordance with international law, the annexation of Latvia to the Soviet Union was