Repudiation of debt at the Russian Revolution II, the last Emperor of Russia, was forced to sign his abdication and the end of the Russian Imperial Government and of the Romanov dynasty. The new government decided to continue the war, which meant more military spending. To increase budget revenues, a state monopoly was introduced on the sales of sugar, tea, matches, tobacco, and other consumer products. Still, the printing press remained the main source of revenues. This was a period of hyperinflation. The Provisional government was overthrown on October 24, 1917, and the Soviet government was created. The amounts of payments in default were enormous. Russian debt
Background and causes of the Iranian Revolution Background and causes of the Iranian Revolution The Iranian Revolution was a populist, nationalist and Shi'a Islamic revolution that replaced a secular dictatorial monarchy with a theocracy based on "Guardianship of the Islamic Jurists" (or "velayat-e faqi.). Its causes – why the last Shah of Iran (Mohammad Reza Pahlavi) was overthrown and why he was replaced by an Islamic Republic – are the subject of historical debate. The revolution was in part a conservative backlash against the westernization, modernization and secularization efforts of the Western-backed Shah, and a more popular reaction to social injustice and other shortcomings of the "ancien