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- W2616493025 abstract "During the period after the First World War, Albania was the least developed of the Balkan countries, as was apparent in all sectors of its economic life. The economic situation was further exacerbated in the early 1930s, when the effects of the world economic crisis began to make themselves felt in the Balkans. As a profoundly underdeveloped country, Albania was much harder hit than the other Balkan states. Incapable of coping with the relentlessly mounting problems, the Albanian government appealed for economic aid from Italy, Albania’s great ally, who was the only power that was prepared to make a loan which no-one expected would ever be repaid. Italy’s main intention was to gain complete control of the Albanian administration (as it had already done with the army). According to the terms of the 1931 economic agreement, Italy was undertaking to lend Albania ten million gold francs annually for the next ten years for the purpose of balancing the state budget and assisting the country’s development in the sectors of public works, economy, and education. With this agreement, the Italians attained their primary goal, which was total administrative and financial control over Albania: the committee that was to supervise the spending of the loan and the organisers-advisors who were to be appointed to four vital ministries would form the base from which that control was exercised. If one bears in mind that control of the army was also in Italian hands, it is clear how far the Italians had already infiltrated the country." @default.
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- W2616493025 date "1995-01-01" @default.
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- W2616493025 title "The economic recession in Albania and Italian infiltration : the loan of 1931" @default.
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