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Wikipedia states in its entry on Philip, Duke of Parma (1720-1765):

As part of the Treaty of Versailles (1757) between Austria and France, it was intended that Phillip would become king of the Southern Netherlands in a deal that would see French troops occupy key positions in the country – however this arrangement was repudiated by the subsequent Third Treaty of Versailles and Phillip continued in Parma.​

What if the 1757 Treaty of Versailles had lasted and Philip had become King of Belgium (the Latin term for the Austrian Netherlands was Belgium Austriacum), thus founding a Bourbon-Parma dynasty in that country? And what about Philip's enlightened minister, Guillaume du Tillot (born in Bayonne, the son of a valet)? Instead of becoming the Marchese di Felino, I assume that he would end up becoming Marquis de Dinant or some other Wallonian town.

Would the Bourbon-Parma dynasty have been better for Belgium in the long run than the Saxe-Coburg dynasty? Would Belgium under the Bourbon-Parmas be seen as a French puppet state?
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