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Period: 1570 to
Spain's constant silver imports from the New World rapidly decrease the value of the Spanish currency and drive up inflation
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1580
Philip II attacks the Ottomans, ending their alliance and crippling the Ottoman fleet.
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The Spanish armada is destroyed at the hands of the English.
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After a failed backing of an Irish rebellion and the prospect of being invaded by no less than three more capable empires, Spain is forced to renegotiate its debts.
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Period: to
Plague ravages Spanish lands
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Almost all Spanish soldiers in Cambodia are slaughtered, ending the Spanish-Cambodia War
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Spain is bankrupted yet again, stopping the reconquest of the Netherlands
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Portugal breaks free from Spain
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The Spanish Netherlands are ceded to France, ending a brief period of time where Spain was beginning to recover.
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Napoleon invades Spain, triggering a mass uprising of most of the remaining Spanish colonies and ending the recovering of the Spanish Empire.