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When the Habsburgs ruled over Espana, things were going well in other ways as well.
Property rights were unstable. Philip II succeeded his father Charles V.
In 1556, 1557, and 1560, the debts of Yeonreo were not repaid.
Fugger and Welser, who were great merchants, brought ruin to the drought: the fall of Germany.
The role of the family was inherited by the Genoese family; King of Spain Habsburg
Sil-i’s wealth was repaid in 1575, 1596, 1607, 1627, 1647, 1652, 1660, and 1662.
Because of their refusal, they too become beggars:
In this way, Espana’s absolute policy causes instability in private property rights.
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