What 2 events caused Mexico to be economically devastated and bankrupt?

1. Mexican-American War (1846-1848)

- The war resulted in Mexico's defeat and the loss of over half of its territory, including the resource-rich regions of Texas, California, and the Southwest.

- The war effort put a heavy financial strain on Mexico, leading to the accumulation of significant debt.

2. French Intervention and Second Mexican Empire (1861-1867)

- The French invasion and establishment of Emperor Maximilian I resulted in political instability and an expensive military campaign to reclaim sovereignty.

- The Mexican government took on further debt to finance its resistance against the French, leading to severe economic hardship and bankruptcy.