In 1555, he unwillingly agreed to the Peace of Augsburg.The following year, Charles V
divided his immense empire and retired to a monastery. To his brother Ferdinand,
he left Austria and the Holy Roman Empire. His son, Philip II, inherited Spain,
the Spanish Netherlands, and the American colonies.
Under philip the second rulingBy 1600, American
mines had supplied Spain with an estimated 339,000 pounds of gold.Between
1550 and 1650, roughly 16,000 tons of silver bullion were unloaded from
Spanish galleons, or ships.
When Philip was assigned to the throne religious reform came up which wasn't a new thing to Spain. The Reconquista, the campaign to drive Muslims from Spain,
had been completed only 64 years before.
Later on the Spanish empire weakened due to inflation ,taxes and other economic issues.Also the population got too large and there wasn't enough basic resources like food.
In the netherland philip kept an army to keep the people under control but when he raised the taxes they revolted and over through the Spanish