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The relevant facts are summarized here. Let's assume that by the opportune PoD (political crisis, the Great Depression hitting French economy more severely) France is not in the position to block the birth of the Austro-German customs union in 1931. The union is established by both countries. Let's assume that the economic union leads to the Anschluss by 1934. Germany buys Italy's support to the political union with a treaty formally renouncing any claim on South Tyrol, a economic treaty, as well as diplomatic support to Italian expansionism in the Western Balkans. Britain simply doesn't care. And France is paralyzed by political unrest.

What happens to Germany ? This could certainly butterfly the Nazist takeover away. Not necessarily the fall of Weimar, although it is quite possible, but at least bring a sane right-wing regime in charge when Hindenburg dies.
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