The Continental Depression

Financial Event

"We shall be establishing banking holidays, to relieve banks from mass runs, as well as establishing new governmental agencies to help aid suffering workers and investors." -Union Presidential Speech

Following the brief war and diplomatic actions between Tharrisia and the Union, the two powers began to find other ways to weaken their opponents. This took the shape of tariffs, banking freezes, and more. While initially isolated to each other, these methods of economic warfare soon spiraled and launched most of the continent (except Nordanvald) into an economic spiral, since both nations are key figures in the continental economy.   Millions of people lost jobs, homes, farms, and more during the "Continental Depression." It took four years of work by multiple governments and their relief efforts to begin to swing the economy in the other direction, and even to this day the economic devastation still touches many lives.