英仏協商
Grey did not welcome the prospect of a renewed crisis over Morocco: he worried that it might either lead to a re-opening of the issues covered by the Treaty of Algeciras or that it might drive Spain into alliance with Germany. Initially Grey tried to restrain both France and Spain, but by the spring of 1911 he had failed on both counts. Grey believed that, whether he liked it or not, his hands were tied by the terms of the "Entente cordiale". The despatch of the German gunboat "Panther" to Agadir served to strengthen French resolve and, because he was determined both to protect the agreement with France and also to block German attempts at expansion around the Mediterranean, it pushed Grey closer to France. Grey, however, tried to calm the situation, merely commenting on the "abrupt" nature of the German intervention, and insisting that Britain must participate in any discussions about the future of Morocco.