In southern Europe, a coalition of Catholic powers, led by Philip II of Spain, formed an alliance to challenge Ottoman naval strength in the Mediterranean. Their victory over the Ottoman fleet at the Battle of Lepanto (1571) was a startling blow to the image of Ottoman invincibility. However, historians today stress the symbolic and not the strictly military significance of the battle, for within six months of the defeat a new Ottoman fleet of some 250 sail including eight modern galleasses had been built, with the shipyards of Istanbul turning out a new ship every day at the height of the construction. In discussions with a Venetian minister, the Ottoman Grand Vizier commented: "In capturing Cyprus from you, we have cut off one of your arms; in defeating our fleet you have merely shaved off our beard". The Ottoman naval recovery persuaded Venice to sign a peace treaty in 1573, and the Ottomans were able to expand and consolidate their position in North Africa. However, what could not be replaced were the experienced naval officers and sailors. The Battle of Lepanto was far more damaging to the Ottoman navy in sapping experienced manpower than the loss of ships, which were rapidly replaced.