I'm currently playing a game as France (my Granada vas victorious! Yeeha!) and it appears that the events take into account the possibility that the French own the Netherlands instead of the Spaniards
One interesting point however that caused the events to behave strangely is that I released the Netherlands as vassals pretty quickly (though the damn dutch took Flanders and the CoT there, which i did not expect!)
All around that was interesting.
All around that was interesting.