The Spanish Empire partitioned (option 1)

WI Spain and its possessions had been partitioned according to the first treaty and the War of the Spanish Succession had been avoided? This is what things were supposed to go like:

1) The French were to receive Naples, Sicily and the Basque province of Guipuzcoa. They would also get Finale, a marquisate west of Genoa.

2) The Austrians were to receive Milan.

3) The Spanish throne was to go to the Bavarian duke Joseph Ferdinand. Spain was to keep its colonies and, from its European possessions, the Southern Netherlands and Sardinia.

2 consequences I can think of:

1) The absence of a war will make the Austrians need the help of Brandenburg-Prussia a lot less, so elector Frederick III will not be recognized as King in Prussia (as Frederick I, which is how he would go down in history in OTL).

2) If the Gonzaga line still dies out, Modena and Montferrat will pass to the duke of Lorraine. In OTL Charles IV, the last Gonzaga duke, allied with France and lost his possessions; at his death Mantua passed to Austria and Montferrat to Savoy, while the duke of Lorraine received Teschen as compensation for not getting the Gonzaga duchies.

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