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People: Diego Fernández de Córdoba y Arellano

Kantakouzenos has tried but failed to weaken …

Years: 1353 - 1353

Kantakouzenos has tried but failed to weaken the economic stranglehold of the Genoese by rebuilding an imperial war fleet and merchant navy.

The effort has involved him in warfare, first on his own and then as an unwilling partner of the Venetians against the Genoese, from which Constantinople emerges as the loser.

The revenue of the Genoese colony at Galata, derived from custom dues, is now far greater than that of Constantinople.

The empire's poverty is reflected in dilapidated buildings and falling standards of luxury.

The crown jewels had been pawned to Venice during the civil war, and the imperial gold coin, hopelessly devalued, has given place in international trade to the Venetian ducat.

Increasingly, Constantinople is at the mercy of its foreign competitors and enemies, who promote and exploit the political and family rivalries among the ruling class.

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