to the restoration of the Wittelsbach Electors of Bavaria and Cologne, Max Emmanuel, and Joseph Clemens. Article XIX of the treaty transferred sovereignty over the Spanish Netherlands to Austria. On 7 September, the Holy Roman Empire joined the agreement by the Treaty of Baden; although Catalonia and Majorca were not finally subdued by the Bourbons until June 1715, the war was over. Aftermath Article II of the Peace of Utrecht included the stipulation "because of the great danger which threatened the liberty and safety of all Europe, from the too-close conjunction of the kingdoms of Spain and France, ... the same person should never become King of both kingdoms." Some historians view this as a key point in the evolution of the modern nation-state; Randall Lesaffer argues it marks a significant milestone in the concept of collective security. Britain is usually seen as the main beneficiary of Utrecht, which marked its rise to becoming the dominant European commercial power. It established naval superiority over its competitors, acquired the strategic Mediterranean ports of Gibraltar and Menorca and trading rights in Spanish America. France accepted the Protestant succession, ensuring a smooth inheritance by George I in August 1714, while agreeing to end support for the Stuarts in the 1716 Anglo-French Treaty. Although the war left all participants with unprecedented levels of government debt, only Britain was able to finance it efficiently, providing a relative advantage over its competitors. Philip was confirmed as King of Spain, which retained its independence and the majority of its empire, in return for ceding the Spanish Netherlands, most of their Italian possessions, as well as Gibraltar and Menorca. These losses were deeply felt; Naples and Sicily were regained in 1735 and Menorca in 1782, although Gibraltar is still held by Britain, despite numerous attempts to regain it. The 1707 decrees centralised power in Madrid, and abolished regional political structures, although Catalonia and Majorca remained outside the system until 1767. Their economy recovered remarkably quickly, while the House of Bourbon still holds the Spanish throne. Despite failure in Spain, Austria secured its position in Italy and Hungary and acquired the bulk of the Spanish Netherlands; even after reimbursing the Dutch for the cost of their Barrier garrisons, the increased revenues funded a significant expansion of the Austrian army. The shift of Habsburg focus away from Germany and into Southern Europe continued with victory in the Austro-Turkish War of