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What if Prussia didn't take AL from France at the end of the war, and didn't take the indemnity either. Basically, Bismarck gives France the leniency he gave Austria. How would history change?

Personally, I think a German-France-Austria alliance might come about, with the Germans and French reaching the same agreement France and Britain reached OTL: the Germans cover the North Sea so the French can watch the Med. Austria would tag along because of the friendliness Bismarck had cultivated.
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