The event that marked the end of the feudal system in Europe was the gradual rise of strong centralized monarchies, particularly during the late Middle Ages. The Black Death in the 14th century significantly weakened the feudal system by reducing the population and leading to labor shortages, which empowered the peasantry. Additionally, the growth of trade and the emergence of a merchant class contributed to the decline of feudalism. Over time, monarchs began to consolidate power, resulting in the establishment of nation-states and a shift towards more modern forms of governance, culminating in the decline of feudal obligations.