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 of Latvia is vested in the people of Latvia."3. "The territory of the State of Latvia, within the borders established by international agreements, consists of Vidzeme, Latgale, Kurzeme and Zemgale."6. "The Saeima shall be elected in general, equal and direct elections, and by secret ballot based on proportional representation." Article 6 shall be applied when the governmental institutions of independent Latvia have been restored, which grant free elections. 5. To set a period of transition to de facto independence until the first session of the new Saeima. During the transitional period the highest power of the state shall be the