A financial and economic crisis occurred in 33 AD in the Roman Empire, during the reign of Emperor Tiberius. After a shift in government policy and a series of confiscations reduced the Roman money supply, the crisis was triggered by the invocation of an old law which resulted in the early recalls of loans given, a credit crunch, and a crash of real estate prices. The crisis was eventually resolved with a liquidity injection in the form of interest-free loans.
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👉 Financial crisis of 33 in the context of First-century
The 1st century was the century spanning AD 1 (represented by the Roman numeral I) through AD 100 (C) according to the Julian calendar. It is often written as the 1st century AD or 1st century CE to distinguish it from the 1st century BC (or BCE) which preceded it. The 1st century is considered part of the Classical era, epoch, or historical period. The Roman Empire, Han China and the Parthian Persia were the most powerful and hegemonic states.
During this century, the Roman Empire (ruled by the Julio-Claudian and Flavian dynasties) continued to be in a period of relative stability known as Pax Romana, withstanding a financial crisis in 33 and a civil war in 69. In Europe, Rome expanded into Britain and fought wars in Germania and Dacia. In Africa, Rome was challenged by Tacfarinas, who led his own Musulamii tribe and a loose and changing coalition of other Berber tribes before being defeated in 24. In West Asia, Rome defeated a Jewish rebellion (66–73) and fought a war with Parthia from 58–63, though the latter conflict was inconclusive. In East Asia, the Chinese Western Han dynasty was overthrown and replaced by the Xin dynasty in 9, which in turn faced its own rebel movements (namely the Red Eyebrows and Lulin), and was replaced by the Eastern Han dynasty in 25. The Eastern Han dynasty then faced and quelled a rebellion by the Trưng sisters (40–43). In 58, the Eastern Han dynasty entered a golden age with the Rule of Ming and Zhang, who were generally regarded as able administrators who cared about the common welfare of the people and who promoted officials with integrity. On its northern frontier, the Chinese dynasties waged intermittent war with the Xiongnu before emerging victorious in 91. The states of Funan and Xianbei were also established in this century.