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 that in April 1920 the Latvian nation followed the principle of self-determination by electing a Constitutional Assembly of Latvia, which adopted the Constitution of Latvia on 15 February 1922, in general, equal and direct elections, based on proportional representation. On 23 August 1939, the Soviet Union and Nazi Germany signed the Molotov–Ribbentrop Pact, which included a secret protocol dividing Eastern Europe into spheres of influence. Latvia was apportioned to the Soviet sphere and on 5 October 1939, signed a mutual assistance pact. On 16 June 1940, the Soviet Union issued an ultimatum to Latvia accusing it of not carrying out