The quote Philip taxed his country to the bound in order to pay for his multitude of wars and campaigns. By placing high taxes on imported luxury goods, he inadvertently encourage smuggling. Philips monstrous palace and monastery at Escorial had consumed much of Spanish wealth. (http://www.hyperhistory.net/apwh/bios/b2philip2-spain.htm).

clear states that Philip II did not value his money at all. He owed 36 one thousand thousand ducats with an annual deficit of 1 million ducats; this was because of his recklessness with money and because of all the money he osteal on wars. Aside from reducing state revenues for overseas expeditions, the internal policies of Philip II further burdened Spain and would in the following century, abide to its decline. This caused inflation and a high tax for all the workers down the stairs his rule. The Spending of all this money lead to Spains first nonstarter in 1557 due to rising military costs. This eventually led to a failure in leading his people, and it was his debt that truly end his reign....If you want to get a full essay, order it on our website: Ordercustompaper.com
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