Establishment of Medici Bank in Florence

Historical Context Note

Litencyc Editors (Independent Scholar - Europe)

The Literary Encyclopedia. Volume 1.6.1: Italian Writing and Culture, 453-present.
Vol. editors: Carla Bregman (Independent Scholar - North America), Jo Ann Cavallo (Columbia University)

Domains

Banking

Dates

Date of occurrence 1387-1494

Places

Italy (Location)

Resources

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One of the largest banks in 15th Century Europe, the success of which brought political and economic power to the Medici family long after the banks demise in 1494. The bank's failure was largely due to local politcial pressure especially in London and Bruges forcing loans to unreliable monarchs such as Edward IV. Notable Medicis are Lorenzo de' Medici de facto ruler of the Florentine Republic during the Italian Renaissance, Pope Leo X (1513-1521) born Giovanni di Lorenzo de' Medici, Lorenzo di Piero de' Medici ruler of Florence 1513-1519 to whom Niccolò Machiavelli's The Prince was dedicated and Catherine de Medici queen consort of King Henry II of France from 1547 to 1559.

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110 words

Citation: Editors, Litencyc. "Establishment of Medici Bank in Florence". The Literary Encyclopedia. First published 01 March 2010 [https://www.litencyc.com/php/stopics.php?rec=true&UID=9567, accessed 06 May 2024.]

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