Britain received Gibraltar from Spain after the War of the Spanish Succession, which was fought over who would succeed the childless King Charles II of Spain. Philip V succeeded Carlos II as King of Spain but had to renounce claims to the French throne under the Treaty of Utrecht, which ended the war. The war led Spain to financial ruin and total bankruptcy.

1. BRITAIN RECEIVED GIBRALTAR FROM SPAIN AND THE WAR LED TO
FINANCIAL PROBLEMS WHICH CULMINATED IN TOTAL BANKRUPT OF
THE STATE.
CAUSES
EFFECTS
UNDER THE TREATY OF UTRECHT PHILIP WAS CONFIRMED AS KING OF
SPAIN. CONSEQUENTLY HE RENOUNCED ALL CLAIMS TO THE FRENCH
THRONE.
THE POWER REMAINED IN EUROPE AND IN FRANCE.
LOUIS XVI’S GRANDSON PHILIP SUCCEDED CARLOS II.
PHILIP LED SPAIN AS PHILIP V AND LOUIS XIV SAW AN OPPORTUNITY
TO EXPAND THE FRENCH EMPIRE.
AUSTRIA, NETHERLANDS, PRUSSIA AND ENGLAND FORMED THE GRAND
ALLIANCE AGAINST FRANCE BECAUSE THE DIDN’T WANT AN UNION
BETWEEN FRANCE AND SPAIN.
THE WAR OF THE
SPANISH
SUCCESSION