Isabella was a Hapsburg herself so it could be argued just as easily that the Germans held that empire (it later fell into the hands of Charles V who was king of a lot of places and Holy Roam Emperor).
That said, there are striking similarities in the governing of Obama and Philip II of Spain, who squandered any power Spain had left in the Elizabethian Age.
Just to clarify. Isabella was not a Hapsburg; her family had a lot of English roots in it. The daughter of Ferdinand and Isabella, Juana La Loca, married the Hapsburg scion Phillip the Fair. It was through this marriage and their son Charles V the Spainish Empire became part of the Hapsburg’s domains.