There are different kinds of crises. A financial crisis, brought on in part by excessive spending and huge gambling losses by Marie Antoinette, resulted in forcing Louis XVI to call Estates General into session for the first time in 175 years.
What is Estates General?
This was said to be a financial crisis, that started due to the high spending and huge gambling losses by a woman known as Marie Antoinette. Due to the above, it forced Louis XVI to call Estate general session for the first time in 175 years?
A financial crisis is known as any kind of situations where some aspect of financial assets suddenly got lost in terms of their nominal value.
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