alternatehistory.com

After the conclusion of WWI (Third Balkan War) Bulgaria was crushed. They had lost territory to all of their neighbors in the Second and Third Balkans War. The Treaty of Neuilly-sur-Seine is often seen as the cause of the war, forcing them to demilitarize, pay reparations, give up land, and force population exchanges.

Bulgaria of course came under the leadership of a mad man. After bankrupting themselves militarizing, they managed to actually defeat several of their neighbors, and only lost when their invasion of Anatolia bogged down in the winter and they lost a war of attrition against multiple opponents.

How do the Balkans play out if they either don’t launch the wars or quit while they are ahead?
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