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How will the alliance system change in Europe (and the world possibly) is the Kaiser would have stopped after the Wittelsbach class. This will give Getman a fleet in the Baltic and some power in the North Sea without causing any issues with Great Britain. The Admiratity may even give agreement the a small class of Dreadnoughts in the early 1910s.
I can see Great Britain not as concerned with the continent and even move Italy closer to Germany as there is less concern of Great Britain. The Ottomans may stay out of the alliance system or even join Great Britain as a "third way".