THE LOAN AGREEMENT BETWEEN THE OTTOMAN EMPIRE AND MONTENEGRO, AND FINANCIAL AID TO MONTENEGRO
THE LOAN AGREEMENT BETWEEN THE OTTOMAN EMPIRE AND MONTENEGRO, AND FINANCIAL AID TO MONTENEGRO

Summary/Abstract: According to author, loan agreements helped the good relations to reach a very positive height between Ottoman Empire and Montenegro. To thank Sultan Abdülhamid for the loan agreement in 1899, was an important reason for Prince Nikola’s visiting İstanbul. Montenegro sometimes did not or could not pay the loan back. At that time the Ottoman Empire erased the debts. For example in 1903 the money loaned to Montenegro was paid by Ottoman Treasury. After this gesture, Prince Nicholas, sent a message of gratitude to Sultan Abdülhamid. Even though Ottoman Empire was in war economy, Abdül Hamid did not hesitate to be guarantor for Montenegro. The main reason for doing this was to hold Nicholas out of Balkan Union. He wanted to keep the peace and did not want the Balkans destabilized.

• Details
• Contents