Excerpts from Books and Wikipedia
". . . it was Selim's successor, Suleiman I, who would reap the benefits of Selim's conquests. Suleiman came to be known as 'the Magnificent,' and during his reign, the Ottoman Empire was recognized as a major European power, entering into an alliance with France, England, and the Netherlands against the power of Habsburg Spain and Austria. However, after Suleiman's death in 1566, the Ottoman Empire came under pressure from the increasing naval superiority of Spain, culminating in defeat at the Battle of Lepanto in 1571." [Furtado: 1001 Days]