Perhaps the Queen-Mother proposes this invasion in order to proceed more feebly with matters in her own kingdom; and thus Mucio (Duke of Guise) and his friends will not have so safe a game, and must take heed lest they be deceived." Thus it is obvious that Henry and Catharine intended, on the whole, to deceive the English and the Netherlanders, and to get as good a bargain and as safe a friendship from Philip as could be manufactured out of the materials placed in the French King's hands by the United Provinces.
Elizabeth honestly wished well to the States, but allowed Burghley and those who acted with him to flatter themselves with the chimera that Henry could be induced to protect the Netherlands without assuming the sovereignty of that commonwealth.

The Provinces were fighting for their existence, unconscious of their latent strength, and willing to trust to France or to England, if they could only save themselves from being swallowed by Spain.

As for Spain itself, that country was more practised in duplicity even than the government of the Medici-Valois, and was of course more than a match at the game of deception for the franker politicians of England and Holland.
The King of Navarre had meanwhile been looking on at a distance.

Too keen an observer, too subtle a reasoner to doubt the secret source of the movements then agitating France to its centre, he was yet unable to foresee the turn that all these intrigues were about to take.

He could hardly doubt that Spain was playing a dark and desperate game with the unfortunate Henry III.; for, as we have seen, he had himself not long before received a secret and liberal offer from Philip II., if he would agree to make war upon the King.