jan 1, 1500 - Spain expeles Jews and moors
Description:
Around 1500 Spain expelled the jews and moors from the country which meant many of their artisans and businessman left. Because of this compounded with inflation and the nonexistent middle class Spain’s economy began to decline. Without the wealth Spain previously had access to they started taking loans from Germany and Italy. They also began importing more goods as it became cheaper than making them locally due to the lack of artisans, this however got money flowing out of Spain.
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Early Modern Era Annotated Timeline
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