This map shows the Spanish and Portuguese empires at their height. They didn’t hold all of this territory concurrently, but they were most powerful from 1580 to 1640, when they were politically unified. Portugal would later pick up more territory in Africa, not shown on the map. We often forget that Spain controlled big parts of Europe, in Italy and the Netherlands. In the Middle Ages, Spain and Portugal were so powerful that they signed a set of treaties literally dividing up the globe between them. They became so rich so quickly that their trade with the Ottoman Empire, perhaps the other great imperial power of the time, filled the Ottoman economy with more gold than it could handle and plunged it economy into an inflationary crisis so severe that the empire never fully recovered.