Quote:
Originally Posted by Bobby-Joe
No, the Spanish parliament forced Philip II to declare bankruptcy because they were over run with feel good FALSE Christians who wanted to fund their failed socialist programs and refused to cut taxes. Philip had foolishly annihilated his Dutch bankers during the Sack of Antwerp and was forced to rely on the Genoese. The Spanish parliament thought they could force the Genoese to eat it because Spain occupied Genoa but the out control Spanish nanny state still needed funding so the Kingdom of Spain was force to resume payments on their loans to secure new ones.
|
Problems caused by the reduction in the revenue flow from the Americas due to Piracy.