Maybe, but there are the Bolsheviks to the east and the soon to be created USSR. A successful Germany after WWI could position itself as the 'Shield of Europe' against the dragon of Communism. This could play out even faster once the Italian Communists really get going with the whole 'revolution' thing and it will likely spread into Austria-Hungary, forcing a German military intervention.Alright so, I'm a little late to the party but I must say I love how you handled the navy side of things. Very plausible stuff and also well written, as is the whole story.
Now, reading the chapters on the peace conference, I sense British shipyards are not going to fall into the shadow of themselves that they historically were in the mid-1930s.
I am also starting to think France and Italy might have common interests in the future and increased cooperation between the two wouldn't suprise me at all. Both have grievances against Germany (and to a lesser extent, the UK), both now have to share the continent with an almost-hegemonic German state and both have ressources that may be helpful to each other. I might be completely off track here, but I think the seed of the future European opposition to Berlin is an eventual Paris-Rome axis.
The UK and Germany might find themselves becoming reluctant allies against the rise of Communism in Eastern and Central Europe, while no doubt continuing to plan for an eventual second war against each other.