Note 382 — Chapter XI · 1572-1576

As a matter of fact he was straining every nerve at the time to hold back his half-brother, Don John of Austria, who, with papal support, was full of all manner of grand plans for the founding of a great Christian Empire in Africa or the East, with himself as Emperor; or else for invading England from Flanders, marrying Mary Stuart, and reigning over a Catholic Great Britain. Don John and Gregory XIII. were very serious in their plans; but Philip was determined that nothing of the sort should be done with Spanish forces. He was absolutely bankrupt at the time, and had recently been obliged to repudiate the interest upon the vast sums he had borrowed. This had caused wholesale financial disaster in Italy and Flanders, and Philip’s credit was at its lowest ebb.