There are three distinct but communicating and interacting geographic regions covered by this term: Crete, the Cyclades and the Greek mainland. Crete is associated with the Minoan civilization from the Early Bronze Age.
By saying that "“The day of conquest and aggrandizement is gone by" Wilson is saying that it is time for a new world order, in which territorial conquest isn't the norm. Unfortunately he was proved wrong.
I think it’s a break even