I think Elizabeth was stuble with the netherlands, for she rufused the crown admittily to save from all out war with Spain, but she had to contend with Philip who it has been reported openly in full council talked about her assasintion, with some one like that as your rival you need to play at his level, and Drake kept him at arms length for a long time. But when the most powerful man in the world wants you dead you have to defend your self or keep him busy which is what she was trying to do, to stool time so that England or her Navy can be prepared for battle.

She may have tried to be subtle but that was completely ruined by Leister taking the governership. From that point on, Elizabeth was anything but subtle. It was painfully obvious to everyone how she was playing France and Spain off against each other. The only reason why France put up with it was the possible marraige to the duke of Alencon, and even the Elizabeth wasnt serious - he was only 16.