Latvia for the next 45 years. The peaceful Singing Revolution, starting in 1987, called for Baltic emancipation from Soviet rule and condemning the Communist regime's illegal takeover. It ended with the Declaration on the Restoration of Independence of the Republic of Latvia on 4 May 1990, and restoring "de facto" independence on 21 August 1991. Latvia is a democratic sovereign state, parliamentary republic and a very highly developed country according to the United Nations Human Development Index. Its capital Riga served as the European Capital of Culture in 2014. Latvian is the official language. Latvia is a unitary state, divided into
History of Latvia state took control over cooperative societies and associations. Dairy industry was placed under control of Central Union of Dairy Farmers. On April 9, 1935 a state controlled Credit Bank of Latvia was created which reduced role of foreign capital by creating many state owned industry monopolies and joint stock companies. Buyouts and liquidations of foreign, Baltic German and Jewish owned companies become a norm. In place of many competing companies large state owned companies were created. In 1939 state owned 38 such companies. The new JSC Vairogs produced railway carriages and Ford-Vairogs automobiles under Ford licence. VEF made world's smallest