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Peace treaties do not always work out the way they are intended, especially if they are complex and take time to implement.  The many treaties comprising the peace of Utrecht are like this.

Spain is the main loser after the War of the Spanish Succession, and an Italian Cardinal seeks to remedy the situation by going to war with the 3 greatest powers in Europe.  You might think Spain is well past the point where they could win a war with France or England or the Empire, and fighting all three at once is sheer insanity.  But it happened anyway.  

 Partly, Alberoni was counting on western Europe's reluctance to get into another war so soon after the last peace of exhaustion.   When he conquered Sardinia in 1717, Europe offered him a good deal, when he went on to take Sicily in 1718, and tried to overthrow the French Regency...everything spun out of control.  But that's OK, because Charles XII would save him...