Albania's independence was recognized by the Conference of
London on 29 July 1913, but the drawing of the borders of Albania ignored the
demographic realities of the time. The short-lived monarchy (1914–1925) was
succeeded by an even shorter-lived first Albanian Republic (1925–1928), to be
replaced by another monarchy (1928–1939), which was annexed by Fascist Italy
and then by Nazi Germany during World War II. After
the liberation of Albania from Nazi occupation, the country became a socialist
republic, the People's Republic of Albania, which was led by Enver Hoxha
and the Party of Labour of Albania.
The People's Republic was dissolved in 1990, and the Republic
of Albania was founded in 1991. The Communists retained a stronghold in
parliament after popular support in the elections of 1991. However, in March
1992, amid liberalisation policies resulting in economic collapse and social
unrest, a new front led by the new Democratic Party took power. The economic
crisis spread in late 1996 following the failure of some Ponzi schemes
operating in the country, peaking in 1997 in an armed rebellion that led to
another mass emigration of Albanians, mostly to Italy, Greece, Switzerland,
Germany and North America.In 1999, the country was affected by the Kosovo
War, when a great number of Albanians from Kosovo found refuge in Albania.