A peace is signed between England and France after the failure of the Amicable Grant leaves Wolsey without sufficient funds to pursue the war. Its terms are favourable to England, as France is to pay Henry VIII a pension of 100,000 crowns a year for the rest of his life. The Peace is a severe setback for the Emperor Charles V, since it loses the Empire a crucial ally in war against France, but Wolsey sees it as an attempt to restore a balance of power to the diplomatic situation, as since its victory at the Battle of Pavia, the Empire has been predominant.