| Olivares realized that Spain needed to reform, and to reform it needed peace, first and foremost with the United Provinces. |
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| In 1625, Olivares proposed the Union of Arms, which aimed at raising revenues from the Indies for imperial defense, which met strong opposition. |
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| After 1636, however, Olivares halted the advance, fearful of provoking another crown bankruptcy. |
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| Thoroughly shaken, Philip IV now overruled Olivares and offered an unconditional truce. |
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| Olivares therefore decided to send 20,000 troops by sea from Spain in a large armada. |
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| Olivares attempted to suppress the Catalan Revolt by launching an invasion of southern France. |
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| Olivares had backed certain taxation reforms in Spain pending the end of the war, but was blamed for another embarrassing and fruitless war in Italy. |
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| Olivares ordered a lightning campaign into northern France from the Spanish Netherlands, hoping to shatter the resolve of King Louis XIII's ministers and topple Richelieu. |
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| A personal quarrel erupted between Buckingham and the Count of Olivares, the Spanish chief minister, and so Charles conducted the ultimately futile negotiations personally. |
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| The defeat at Rocroi also led to the dismissal of the embattled Olivares, who was confined to his estates by the king's order and died two years later, broken and mad. |
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