WI : No Battle of the Alps

What if Mussolini actually listened up to virtually everyone, and not launch the mother of insane operations in the Alps, trying to follow-up on German advance in 1940?
There is little doubt that it won't save France, altough it might change some elements or events of the military defeat, but what would be the consequences in Italy regarding Mussolini's position and later participation to WWII?
 
The attack was purely to ensure Italy was included in the peace conference. What he literally said was: "I only need a few thousand dead so that I can sit at the peace conference as a man who has fought" I don't even think the dead had to be French.

if he didn't, then that would seriously hurt his ambitions for a new roman empire and the Italians might not even get demilitarized zones in East Africa. which endangers their territories there significantly.

Only an attack into Egpyt will also undermine the view of the Italians in the eyes of the world as they fared very poorly there, at least in France they ended with avictory even though it wasn't theirs. Without any kind of victory in their names, their allies and enemies will think less of them. It will probably give more vigour to the Greeks and Yugoslavians, not to mention the British and French of course. at the same time Germany might be more reluctant to help out their new ally in Africa.
 
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