Very little glory was gained by any of the combatants in this campaign.

Spain, France, nor Paul IV., not one of them came out of the Italian contest in better condition than that in which they entered upon it.

In fact all were losers.

France had made an inglorious retreat, the Pope a ludicrous capitulation, and the only victorious party, the King of Spain, had, during the summer, conceded to Cosmo de Medici the sovereignty of Sienna.

Had Venice shown more cordiality towards Philip, and more disposition to sustain his policy, it is probable that the Republic would have secured the prize which thus fell to the share of Cosmo.