I myself do mostly agree with Henry, however I still think that a second major war would shake Europe. The sheer humiliation of defeat might well lead both and France and Italy to fascism (sp?) and Great Britain seeking revange to find each other in a new major war with Germany. Also combined that all those countries do have a military potential, in particiler France which is very often overlooked it would mostly like be a very bloody war. Who would win that war is hard to say, although it's possible it could've gone either way. My beat would however be on Germany with increased resources in the east.