The document summarizes the decline of the Spanish Empire between the late 16th and early 17th centuries. It discusses how overextension of resources through wars and colonial enterprises bankrupted the empire. It faced strong adversaries like England, France and the Netherlands. Economic troubles were compounded by inflation from New World silver and gold, as well as plagues that killed many Castilians. While Spain had once dominated Europe, it continued to weaken throughout the 1600s due to its financial troubles and losses until it was no longer the dominant power on the continent by the mid-1600s.