History of Europe

The economic crisis of 1866

The economic crisis of 1866 played a relevant role in the change in the historical cycle that represented the final crisis of the reign of Elizabeth II and the triggering of the 1868 revolution. It was influenced by both international factors - rise in cotton prices, increase in interest of the loans. financial insecurity - as nationals -failure in the operation of the railway network, agrarian crisis, crisis in the textile sector, failure of banks and credit institutions, etc.-
The combination of these phenomena made this crisis have a more serious impact on Spain than in other European countries, especially due to the important political repercussions it had.