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1557 : first bankruptcy 1560 : second bankruptcy 1566 : first stages of Revolt in the Spanish Netherlands 1568 : start of the Revolt of the Moriscos
1571 : defeats Turks at Lepanto BUT : 1572 : second outbreak of trouble in the Spanish Netherlands. Problems until 1578 1573 : Tunis taken for Spain 1576 : large increase in bullion shipments to Spain from the South America BUT : 1576 : Philip went bankrupt for the third time. 1578 : Farnese successful in Netherlands 1581 : Philip became king of Portugal
1586 : Elizabeth of England officially sent aid to the rebels in the Netherlands 1586 : Philip decided to invade England 1588 : the Spanish Armada. 1590 : Farnese invaded France - on the orders of Philip just as he was about to make major progress in the Spanish Netherlands. This enabled the rebels to re-group and recover from their losses. Farnese had to do the same on Philip’s orders in 1592.1591 : the Revolt of Aragon 1596 : the fourth bankruptcy
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