Charles I, King of Spain, Sicily and Sardinia, is elected Holy Roman Emperor as Charles V. This electoral outcome is primarily the result of the funding Charles received from the Fuggers banking family, the German electors' antipathy to his rival Francis I, and the Pope's last-minute withdrawal of opposition. The conflict between Hapsburg and Valois is brought to a head by his election to this position, one that Charles will hold until his abdication in 1556.