Spain rose to a position of power in the sixteenth century due to the consolidation of the two largest Spanish kingdoms, Aragon and Castile, in 1492, along with the conquest of Granada that same year. For it's overseas colonization.
The empire was instrumental in spreading Christianity across the Atlantic. It also brought enormous wealth to Spain after rich silver and gold mines were discovered after the 1530s. Spain's European expansion began long before this wealth became available.
With the accession of the Hapsburg Charles (Carlos) to the Spanish throne, Spain gained control of vast areas of central and northern Europe (Austria, the Netherlands, Burgundy and chunks of Germany).
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