1725 Constancian crisis
Elections were held for the 14th Imperial Synkletos, which convened on 14.1.1724. Brutus Antipatros was elected Speaker, while Ismail al-Osman was appointed Mesazon, having the support and confidence of the ruling Nationalist & Humanist Party, particularly those dikastis from Raspur.
Background
A cost-of-living crisis became evident at the start of 1725, where inflation Constancian economists brushed away the "irrational exuberance", but other economists outside of Constancia urged others to see the inflation as the result of too much currency chasing too few goods and services. Experts who refused to be identified claimed that the inflation was a natural consequence of large-scale bribery to purchase seats and loyalties.
Prices, particularly for food, rose, resulting in social unrest and a cost of living crisis. The foreign exchange rate of the Constancian stater soon fell consistently over the next few days, as well as significant drops in the Constancian Commercial Exchange, representing a crisis of investor confidence as well. Interest rates rose as a result, causing a credit crunch as well.
Government responses
Initial government response was to assuage public outrage by firing Zvonko Shani as Minister of Finance, Erast Meginfrid as Minister of International Trade and Industry, and Frederik Adonai as Minister for Budget and Management, with new appointments forthcoming. Hansjörg Monat, Minister for Labor and Employment resigned a few days after this, claiming personal health issues, which some journalists claimed was disgust at government mismanagement of the crisis.
General strike
A general strike was called for 13.VI.1725, initially led by the Road Hauliers Transport Association, which saw their take-home pay dwindle to nothing, with the rise of costs of transport as well as the rise of petroleum costs, as well as the cost of food. This was soon followed by a similar announcement by the Constancian Education Association, representing teachers nationwide, and the National Nurses League. The Democratic Alliance called for political reforms, particularly elections for local government.
