Clement VII has attempted to steer a …

Years: 1527 - 1527
April

Clement VII has attempted to steer a middle course between King Francis and Emperor Charles in their struggle for northern Italy.

Charles finances his extensive empire by borrowing huge sums of money from the wealthy bankers and mineowners like the German house of Fugger or from the well-organized money market of Antwerp.

In return, the lenders receive monopoly rights and political protection.

Nevertheless, funds are often scarce.

In response to Clement’s formation of the League of Cognac allying the papacy with France, Milan, Venice, and Florence against the empire, Habsburg-funded Spanish and German mercenaries invade Italy to oppose the league and quickly conquer Milan.

Henry VIII, rebuffed in his attempt to have the alliance signed in England, will not join until 1527.

The League of Cognac’s forces quickly seize Lodi, but …

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