The First World War failed to resolve the basic conflicts among theEuropean powers. The injustices inherent in the Versailles peace settlementonly worscncd the complicated national questions which bedevilled the wholeof Europe. The military, political and economic developments whichfollowed i9 i8 drove the European world towards a new grouping of powers.At the bcginning of the i930s the countries of the Balkan Peninsulaonce more bccame the stage in an acute struggle among the largest nations inthe world. The interests of Britain, France, Germany and ltaly clashed, as theBalkan countries occupied a crucial position on the East-West route. Theconfiicts among the greater European states, sharpened on the eve of theSecond World War, aggravated the politicaI situation in the Balkans andimpeded the realisation of the regional diplomatic plans of both Westerncountries and of Nazi Germany and Fascist ltaly. Hence a closer scrutiny ofthe distribution of power in southeastem Europe and the Ncar East during theIate i930s, as well as the policy of the great powers vis-lı-vis this area mayhelp to better grasp the complcx international configuration prevailing inEuropc on the brink of war.