Although France either promised to give England 500k crowns, or give Calais back after 8 years, they never intended on doing this and so it was an effective surrender. That said, the loss of Calais was not catastrophic: in 1540 there were only 150 merchants there, and the garrisons sometimes costed more than the revenue.
Religious causes: 1559 France only intervened because they were Protestant rebels, and although MQoS was a threat because of the Guise faction, she only threatened Elizabeth because she was a Catholic alternative. Furthermore, Elizabeth used Protestant commanders, like Cuthbert Vaughan and Grey de Wilton (who actually led the forces despite Norfolk's ostensible command)
although this was a success for England, since it established an Anglophile Protestant Government, which did not support France when England intervened (1562-3) and forced M to abdicate (1567), this was not because of English skill: they actually failed at Leith in 1560. Rather, this was because of the extraneous factors of a gale destroying the French fleet, and the Guise factionalism, and Mary of Guise's death ending interest in England
Reasons - Although E1's were never explicitly religious, since she focused on impressing Robert Dudley and the geopolitical issues of regaining Calais and limiting the Guises' power, the religious issues underlie it: the 1562 Wars of Religion meant that a united Catholic France could threaten England, or a united Huguenot France could support England; Dudley's motives were religious; and Protestants like Sir Nicholas Throckmorton and the Earl of Warwick were used in France.
Failure - Elizabeth never ended up aiding the Huguenots: when she captured Le Havre (1562), P2 told her to back off, and the Hugenots thought she was being too expansionist. This resulted in the 1564 Treaty of Troyes, in which E1 renounced all her claims on Calais.
John Hawkins broke Spanish monopoly on slave trade in 1562-3, 1564-5, 1567-8. Pauline Croft argues this made E1 seem aggressive, since E1 personally supported John Hawkins. SuDo says it wounded Sp.'s pride of their empire in the New World. However, the material effects were weak. Drake's expedition to Indies only seized £60k booty, and in 1585-6 Spanish commerce reached its peak.
Although this was ostensibly a geopolitical threat, since NLs were close to England and so an easy point of invasion, this was only a threat because of a potential Spanish religious crusade
This defeated the major Protestant vanguard
murdered Lord Darnley husband
Although this was arguably caused by San Juan de Ulua, which suggests privateering caused tensions, the news of the skirmish was still sketchy. Arthur Champernowne, vice-admiral in Plymouth, had more religious intentions, since he wanted to stop the bullion from being used against Protestant Dutch
France and England defensively allied, with the obvious implication being against Spain. Although some of this improvement in relations is geopolitical, since Spain was an obvious threat and E1 wanted to limit France's ambitions in NLs, the religious subtext that she was avoiding a Spanish crusade is obvious, since this occurred a year after Rudolfi
This did have geopolitical reasons. In 1571 France had proposed an Anglo-Franco-German attack on NLs, and E1 and Burghley feared this would lead to French dominance. The April 1572 Dutch revolt could allow France to invade NLs and gain more dominance. However, the St. Bartholomew's Day Massacre was the final straw, and this was religious
Huguenots, WIlliam of Orange, Elector Palatine
This suggests religion determined whom England allied with
P2 refused. SuDo argues this shows that E1 did not plan a religious crusade, since she only wanted P2 to back off; she was likely happen to keep Catholicism the public religion, but allow more toleration of Protestants
This caused all 17 provinces to revolt, which made the Netherlands a more acceptable ally than just Holland and Zealand. It also prompted the geopolitical threat of more Spanish in NLs
Spain promised religious liberties and to remove troops from NLs. E1 promised £100k help if Spain refused. Spain accepted
E1 did not end up sending funds - suggests her cautious consistent policy
This suggests her cautious but consistent policy. However, he supported Calvinists and so actually made the problems worse
As a Catholic, this suggests religion was not everything
Walsingham had Throckmorton under surveillance for 6 months before
This intensified the threat of Spain subduing the Nethlands and moving on to England
Potential Franco-Spanish crusade against England
E1 backed E of Leicester to lead 6,000 men into NLs
Walsingham intercepted letters between Anthony Babington and M