Economic Difficulties

Economic Difficulties

The seizure of the Athonite lands by Sultan Selim II in 1568 forced the monasteries to borrow large sums of money at exorbitant rates in order to buy back their dependencies. This fact, together with the high taxes imposed, caused serious economic problems to all the monasteries, including the Pantokratoros, which it attempted to resolve by resorting to soliciting donations. Furthermore, the appropriation of the large dependency in Limnos in 1958 required the Monastery to pay 130,300 άσπρα (aspra, silver coins) to recover it. Donations of money and land helped in the improvement of conditions in the 17th century: In 1629, the Vlachian ruler Ioannis Alexandros offered the Katsori Monastery to the Pantokratoros as a dependency. In general, the following period was characterized by alternate cycles of economic decline and recovery, depending on the circumstances.

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