The one in 1748. Louis XV gave back the Austrian Netherlands. Can anyone give me a good reason to do that?
If the Netherlands were kept, most likely a puppet state under a Bourbon cadet, how would that affect the rest of Europe? I'm guessing the new ruler it would be Infante Philip, OTL Duke of Parma since he was the most senior Bourbon with no land. But would the Bourbons then have to cede Parma back? If they do, Elisabeth Farnese would like that but she was out of the picture once Fernando VI became King of Spain. But still, the Spanish fought for that a very long time and might be angry at giving their hard-fought gains back and Charles III, at the time still King of Naples, was also participant in that war. his brother would be getting a much bigger prize but it hardly helps the Bourbons in Italy.
The other option is to give back the AN but then demand a compensation, which might not be such a stupid thing. Louis XV wouldn't have done it since he said "he is no shopkeeper

", but someone smarter like his son with some good advisers. How much were the Allies willing to give up the get back the region? France could've gotten a lot for it. Philip gets Parma, France regains Louisbourg, maybe even all of Acadia, keep Madras, throw in some sugar islands from both the British and the Dutch, some deals on the Barrier Treaty, maybe fortifications in Dunkirk rebuilt, there is the Asiento...How far could they go, actually?
If the Netherlands were kept, most likely a puppet state under a Bourbon cadet, how would that affect the rest of Europe? I'm guessing the new ruler it would be Infante Philip, OTL Duke of Parma since he was the most senior Bourbon with no land. But would the Bourbons then have to cede Parma back? If they do, Elisabeth Farnese would like that but she was out of the picture once Fernando VI became King of Spain. But still, the Spanish fought for that a very long time and might be angry at giving their hard-fought gains back and Charles III, at the time still King of Naples, was also participant in that war. his brother would be getting a much bigger prize but it hardly helps the Bourbons in Italy.
The other option is to give back the AN but then demand a compensation, which might not be such a stupid thing. Louis XV wouldn't have done it since he said "he is no shopkeeper