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How did Philip II actually HURT the Spanish economy by utilizing his absolute power and control?

How did Philip II actually HURT the Spanish economy by utilizing his absolute power and control?
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How did Philip II actually HURT the Spanish economy by utilizing his absolute power and control?

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User Sohnryang
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Answer:Philip never raised enough cash to cover his expenditure and as a result had to declare state 'bankruptcies' in 1557, 1560, 1576 and 1596.

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User Babu James
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