What were the factors that enabled the Spanish to rise to become a global superpower? What steps did Spanish monarchs in the later part of the 15th century undertake consolidate power and the country to set the state for dominance? Why did it falter in the end? Offer examples and place your answers in a larger historical context.

These are some key factors for the rise of Spain to a status of global superpower in the 16th and 17th century:

- The expelling of the last remnants of Arabic domination and the final reunification of the whole territories of Spanish Christian kingdoms under the rule of a strong crown, the crown of Castille and Aragon, occurred in 1492. A modern Spanish kingdom was born then. King Fernando de Aragón and queen Isabela de Castilla financed the expedition of Columbus the same year and his next voyages.

- The coming of Columbus to the American continent and the following conquest expeditions. Gold, silver in great amounts are found and taken by the expeditions of Hernán Cortés to the Aztec Empire and of Francisco Pizarro to the Peru of the Incas, and by others. Spain gained access to enormous, unimaginable wealth not suspected before. This allows the crown to spend at home, to fight wars throughout Europe and keep a powerful army and a large navy; Spain was the most powerful European nation of the 16th century.

- Spain became an overstretched empire. It lost many wars, having to pay reparations and indemnizations, as well as debts with private bankers, all of which turned to be the final destination of American riches.

- "Drunk" with the easy flow of wealth from the colonies, the Spanish economy gradually lost dynamism, lacking innovation. A faltering economy in the 17th century, overstretching and lost wars sealed the progressive decline of the Spanish power.