Ottoman financial integration withEurope: foreign loans, the OttomanBank and the Ottoman public debt
Between 1854 and 1881, the Ottoman Empire went through one of the mostcritical phases of the history of its relations with European powers.Beginning with the first foreign loan contracted in 1854, this process wasinitially dominated by a modest level of indebtedness, coupled with sporadicand inconsequential attempts by western powers to impose some control overthe viability…