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Spain

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 its 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 would still be held by Britain, despite numerous attempts to regain it. The 1707 Nueva Planta decrees centralised power in Madrid, and abolished regional political structures including the Crown of Aragon, although Catalonia and Majorca remained outside the system until 1767. Their economy recovered remarkably quickly, and the House of Bourbon (save for brief interruptions) has held the Spanish throne ever since.