, Holy Roman Emperor and Archduke of Austria. The period after the 1713
Peace of Utrecht was one of constant re-alignment among the European Powers as they attempted to solve issues without war. France in particular needed peace to rebuild its exhausted economy after the
War of the Spanish Succession, which resulted in the 1716
Anglo-French Alliance. Although both sides were suspicious of each other, the succession of
George I in 1714 and his concern for
Hanover made the alliance more important to Britain than was previously the case. Utrecht confirmed
Philip V as the first
Bourbon king of
Spain but left Britain in possession of the Spanish ports of
Gibraltar and
Mahón, Menorca, captured during the war. Regaining these was a priority for the new regime. Spain also ceded their Italian possessions of
Naples,
Sicily,
Milan and
Sardinia. These became a focus for Spanish foreign policy largely due to
Elisabeth Farnese, Philip's second wife. When they married in 1714, he already had two sons and she wanted to create an Italian inheritance for her own children. Commercial issues included the Austrian-owned
Ostend Company, which competed for the
East Indies trade with British, French and Dutch merchants, as well as Spanish concerns over British incursions in
New Spain. As the 1730s began,
Emperor Charles VI of Austria needed support for the
1713 Pragmatic Sanction and ensure the succession of his daughter
Maria Theresa. The result was an almost continuous series of conferences and agreements, among them the 1725
Peace of Vienna between Austria and Spain. This alignment was short-lived, Charles VI deciding Austria's interests were better served by an alliance with Britain and the
Dutch Republic. ==Details ==