We see a lot of TL's or what if's positing the terms if Italy were to join the CP, and the CP emerged victorious....
So WI Italy was to join the CP in declaring war on the allies, and the CP was still defeated as in our TL, with Russia collapsed and the US a member of the allies....
What peace terms would Italy face? Might it lose the Francophone Aosta valley to France? Would it gain any of the Italian speaking territories of the former AH empire, assuming AH collpases as per OTL?