The Decline of
Spain
žAppearance vs.
Reality
—Spain controls large parts of the New World, Asia and Africa and has trade routes between them – appears to be rich and powerful
—Actually, the treasury is empty, the armed forces are out of date, government is inefficient, commercial class is weak, peasants are suppressed and there are too many nobles and priests
žBankruptcies in 1596 and in 1607 under Phillip II and Phillip III
žUnder Phillip III (1598-1621) decline becomes apparent