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The 10-month Siege of Florence (1529–1530) by the Spanish ended the Republic of Florence and Alessandro de' Medici became the ruler of the city. The siege brought the destruction of its suburbs, the ruin of its export business and the confiscation of its citizens' wealth. [ 8 ]
Its coin, the florin, was the dominant trade coin of Western Europe for large scale transactions and became widely imitated throughout the continent. [4] [5] During the Republican period, Florence was also the birthplace of the Renaissance, which is considered a fervent period of European cultural, artistic, political and economic "rebirth". [6]
[10]: 67 It was the result of a power struggle between Florence's ruling elites, the established artisan guilds of Florence, and Sotto posti (or un-guilded) which included the Ciompi; mainly a group of low-wage textile workers employed in Florence's thriving wool industry. At its height, this trade sold fabrics throughout Italy as well as ...
During Florence's crisis in the Italian Wars, Pisa revolted against Piero the Unfortunate and in 1494 reconstituted itself as an autonomous republic, restoring its own currency and magistracy. However, after 16 years of serious war, Florence managed to reconquer it definitively in 1509.
A factor was dispatched to Venice to seek out investment opportunities. He did well and on March 25, 1402, the third branch of the Medici bank was opened. It suffered from some initial mismanagement (by the factor who had previously done so well—he made the fatal mistake of violating the partnership agreement and loaning money to Germans; on a more humane note, he would eventually become a ...
Over the next century, Naples and Lombardy became a major source of men and money for the Spanish Army of Flanders during the 1568 to 1648 Eighty Years' War. [82] England entered the war in June 1557 and the focus shifted to Flanders, where a Spanish army defeated the French at St. Quentin on 10 August. [83]
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Until its exile from Florence in 1434, the Strozzi family was by far the richest in the city, and was rivaled only by the Medici family, who ultimately took control of the government and ruined the Strozzi both financially and politically. This political and financial competition was the origin of the Strozzi-Medici rivalry.