After the Second Global War and the American Revolutionary War, the Byzantine Empire had been thrown deep into debt. The Byzantine economy was near the brink of ruin, and the people were the ones paying for it. Taxes had been pushed to the maximum profit, but the economy still didn't recover, while the nobility was barely taxed. The general economy of Europe was ind decline, and the Byzantines were unable to receive loans from any of their allies. The Byzantine economy was on the brink of collapse, and one final event would do it.