Latvia as its currency since 1 January 2014, replacing the Latvian lats. The name "Latvija" is derived from the name of the ancient Latgalians, one of four Indo-European Baltic tribes (along with Couronians, Selonians and Semigallians), which formed the ethnic core of modern Latvians together with the Finnic Livonians. Henry of Latvia coined the latinisations of the country's name, "Lettigallia" and "Lethia", both derived from the Latgalians. The terms inspired the variations on the country's name in Romance languages from "Letonia" and in several Germanic languages from "Lettland". Around 3000 BC, the proto-Baltic ancestors of the Latvian people settled on the
Baltic states housing bubble was unsustainable; many banks in the Baltic states found themselves "trapped" with high debts denominated in euros. When the housing price in the Baltic states crashed, banks in the Baltic States were unable to re-pay their debts due to high non-performing loans and lacked of liquidity to sufficiently cover their debts to the parent banks. Following the integration with the European Union, the Baltic States enjoyed strong economic growth and subsequently among the fastest economic growth in Europe. Thus, the Baltic States emerged as the top destinations for foreign direct investment (FDI). Generally majority FDI into the Baltic States was