The reconstruction of South-Eastern Europe

THE RECONSTRUCTION OF

at between the Powers of the Quadruple Entente, but I am convinced that no decision of the Cabinets can oppose for long the living forces which determine the political and economic life of the European nations. If the agreement concerning the future of the coasts of the Adriatic arrived at between the Allies be just, and in harmony with the vital interests of the parties primarily concerned, it will endure and be productive of beneficent consequences. If it be one-sided and prejudicial to the vital interests of the most-concerned parties, it will stand for some time, causing permanent irritation and friction, until it breaks out in new and sanguinary complications.

Every student of the European situation knows perfectly well that Italy had nothing to gain and everything to fear from the German victory. For Italy, as for Great Britain and France, the present war has a strictly defensive character; they are fighting not to increase their possessions, but to assure and defend their position, and to be able to continue the peaceful evolution of their political, economic, and social institutions. We must give the credit to the Italian statesmen that from the very outset of the present crisis they clearly saw on which side the interest of Italy was to be found. To Italy’s honour, it took the side of liberty and democracy in Europe. The Teutonic victory would have placed Italy in the same position towards

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