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In an ideal world where Europe's fallen monarchies (and those elsewhere) are to be restored, but we also have to take into account national aspirations for self-determination, what would the ideal borders be like as a compromise between then and now?
First- restore the monarchies of France, Portugal, Germany, Austria, Italy, Serbia, Montenegro, Romania, Bulgaria, Greece, Albania, Russia and Georgia. That one is obvious. Second- how about the "subnational" structures of Germany and Italy? What about undoing the injustices inflicted in the 1860s which in many ways paved the way for further tragedies? Perhaps, if we can collapse the EU and restore the monarchies wholesale, a Habsburg Union can be achieved with Austria, Hungary, Czech Lands, Slovakia, etc as sovereign states under one monarch. Would the Kingdom of Romania be constituted as "Greater Romania" including present-day Moldova? What of the other states that came out of the dissolution of the Soviet Union and Yugoslavia? The Middle East situation is more complicated. In an ideal world, the Hashemites would have had the majority of the region following the collapse of Ottoman power, while the Kingdom of Kurdistan under Barzanji would have secured independence. Arabia was during and after World War I effectively contended between the Saudis, Hashemites and Rashidis, though I always argue that the Saudis winning the Battle of Mecca in 1924 had far-reaching consequences for Islam. The Gulf states and those of Yemen emerged more organically and were well-established by then.