Debt Of Spain After The Loss Of The Spanish Armada

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| Millones of Debt | The economic downturn of Spain | | Aaron Huff | 12/12/2011 | Mr.Braun’s 2nd | Charles V was born at Ghent in 1500, throughout his life as King and Holy Roman Emperor he ruled many lands and left Spain to his son during the “Golden Age”. During the 16th and 17th centuries Spain went from being the most financially stable country in Europe to being essentially bankrupt. Phillip II was King Charles V’s son and he had many troubles as king. He lost millions rebuilding the Spanish Armada and when he died his son Phillip III had no luck reviving Spain’s economy. In about 100 years Spain went from being a “world powerhouse” to a lowly country accepting money from second-rate lenders. So how did the destruction and rebuilding of the Spanish Armada effect Spain’s economy and was Phillip II at fault? During the 14th Century Spain became a world powerhouse. Charles V was given a large amount of land from his father as inheritance, and as soon as Charles became king he began conquering even more land. Charles conquered Italy, and the territories in New Spain were tremendously extended due to the destruction of the Aztec and Incan empires by Spanish conquistadors. When Charles V paternal grandfather died he also inherited the Hasburg Monarchy.(Kleinschmidt 44) After the Battle of Pavia in 1525 Charles V controlled Italy, Spain, and he “shared” Germany with the Holy Roman Catholic Church.(Kleinschmidt 97) Charles left his son with the biggest Spanish Empire ever before, but along with that he left his son with a massive debt and an enormous military. Phillip II had a lot of land. He inherited Spain from his father, and he also had other land that he owned and added to his property. Phillip used his wealth as a prince to buy land in many areas, and once he became king of Spain he colonized in every continent known to man. Along with this
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