Economic Impact of the Hundred Years' War (1340s)

Timeline

1. 1342–1343Ghent · FlandersIn 1342 the cities of Flanders rose up against Philip VI's increased wool export taxes and military levies; the cutoff of English wool supplies severely damaged the textile industries and tariff revenues of both England and France, transmitting the pressures of war finance to both sides.
2. 1343–1346Florence · FlorenceEdward III borrowed heavily from the Florentine Bardi and Peruzzi banks to fund the Hundred Years' War; after 1343 his debt defaults caused the two great banks to fail in succession, dealing a heavy blow to Europe's international credit network and making the model of war financing unsustainable.
3. 1346–1350Normandy · NormandyIn 1346 Edward III landed in Normandy with a large army and won at Crécy, subjecting northern France to widespread plunder and destruction; war levies, ransom demands, and the plague of 1348 combined to push Western Europe's finances and social structure to the limit by the end of the 1340s.