Philip II Bio By debateproject Period: May 21, 1527 to Sep 13, 1598 Life of Philip II Jul 6, 1545 Maria wife of Philip, dies during childbirth Jan 6, 1556 Philip II Takes Power Dec 6, 1557 Philip II declares bankruptcy Dec 6, 1559 The Escorial, Philip's Palace, was begun in Madrid Dec 6, 1560 Philip II goes bankrupt for the second time Dec 6, 1561 Madrid named Capital of Spain Dec 6, 1566 The first revolt in the Spanish Netherlands Dec 6, 1576 Philip II goes bankrupt for the third time Dec 6, 1584 The Escorial Finished Dec 6, 1586 Philip II invades England Sep 13, 1598 Philip II Leaves Power