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How Debt Destroyed the Ottoman Empire

For over 600 years, the Ottoman Empire ruled vast lands and controlled global trade routes. But its collapse didn’t come from a final war — it came from debt.
In the 19th century, endless wars and modernization forced the empire to borrow heavily from European banks. High interest rates created a deadly debt trap, and by 1881, foreign powers were controlling Ottoman taxes through the Public Debt Administration.
Long before the empire officially fell in 1918, it had already lost its financial freedom.
History proves one brutal truth: when a nation loses control of its money, it slowly loses its power.

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