Spain's greedy.

"The sinking of the Mercedes was a pivotal event in Spanish and European history, and the site and its contents are the inalienable historical heritage and patrimony of Spain"

Best not push that line too much. The gold and silver were formerly hitorical heritage items stolen from New World during a pivotal event in, for example, Incan and Aztec empires, so should be repatriated, yes?

And the wreck is not in Spanish waters. It is "off Portugal." And respect for the dead, sure (up to a point), but is there any evidence of disrespect?

Spain may have some grounds for trying to get a piece of the action, but this just sounds like a silly two-year-old shouting "MINE!"

This is another fascinating example of salvage claims vs national claims. The complication of this discovery make it more interesting. The supposed "Spanish" treasure of course represents gold taken by conquest from the indeigenous peoples the Spanish encountered.Is it the theft or the minting of coins or both that gives Spain any claim. Do the present population of Mexico and elsewhere in Central America are not the same people who were conquered of course. Instead they are largely the result of several centuries of amalgamation of genes resulting in the current population as well as centuries of seeking self rule and not remaining royal colonies of Spain. Then too, are the risk takers who loacated the wreck and recovered the treasure not to be compensated? That would seem unjust and contrary to common sense. What is needed is a brokered settlemen that gives something to everyone with some kind of interest.