Confronted with war breaking out in Basque territory and before matters ran out of control, the envoy of regent Maria Cristina's government, the Marquis of Miraflores (a middle-of-the-road liberal), contacted London's City bankers to open a line of credit with the Spanish Treasury (thus pay the next installment of external debt due in July 1834 and get new credit), as well as the British Government in order to garner its political endorsement. An agreement with Nathan and James Rothschild and a loan advance of 500,000 pounds to the Marquis of Miraflores paved the way to the establishment of the Quadruple Alliance that sealed British and French protection to the Spanish government, including military operations (April 1834).