The 18th century began with the War of the Spanish Succession (1701–1714). The European powers, worried about the hegemonic power of the French king Luis XIV, together with his grandson Felipe de Anjou, whom Carlos II had named heir to the throne, formed the Great Alliance and endorsed the putsches of Archduke Carlos of Austria to accede to the crown. After the Treaty of Utrecht, Felipe V (1700–1746) was recognized King of Spain, although he later lost his dominions in Menorca and Gibraltar. In 1724, he abdicated in favor of his son Luis I, but when the latter died months later, he returned to assume the Spanish throne. During his reign, he developed a centralist policy and reorganized Public Property.