Romania says no

What would be the result if Romania told both Bulgaria and Hungary "no" to their land claims in the 40s?

In a game I play it results in a two front war for Romania, but somehow I doubt that would happen with the Nazis involved.
 
There is somewhat of a chance IMO for things to work out, IF the Romanian leadership (not necessarily the OTL one) presents a credible enough bluff to Hitler and IF Romania aligns itself more forcefully with Italy and IF Mussolini doesn't make a fool of himself in the summer of 1940.
 
Romania isn't saying no to Bulgaria and Hungary only. The partition had the support of the two bullies in the block, i.e. Germany and the Soviet Union. The traditional ally of Romania had been France, and by the summer of 1940 it was in no shape to provide help. Britain had offered a guarantee, but had other fish to fry. Italy had been a possibility, but not now that it was an ally in the war with Germany.

So if Romania says no, chances are it gets invaded, from all sides save Yugoslavia. The Hungarians have German support, with Hitler being worried that the Soviets might get too close to Ploesti.

What happens then? Hard to say. Romania can't win, but one wonders how long this will drag on, and with what consequences, especially on the starting positions for Barbarossa the following year.

And now for a bit of shameless self-promotion:
GURPS WWII: Michael's Army.
 
There is somewhat of a chance IMO for things to work out, IF the Romanian leadership (not necessarily the OTL one) presents a credible enough bluff to Hitler and IF Romania aligns itself more forcefully with Italy and IF Mussolini doesn't make a fool of himself in the summer of 1940.

Didn't Italy support Hungary and Hungarian expansionism even more that Germany did?

I suspect the best option for Romania preserving its territorial integrity would be to focus on Germany with a clear and firm stance - offer friendship, refuse to give up any territories to Hungary and threaten an end to all that oil and materials if Romania is forced to defend itself. And to do so as early as possible, before they get too cozy with Hungary.

The nature of Romania's leadership might not matter that much. Although it's hard to imagine Carol II's regime doing it, considering what a mess he made in both internal and foreign policy.
 
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