The internal crisis of Turkey, and especially the last events occurring in Albania, which have enormously worsened the politico-military situation of the enemy Empire, impels us, as far as I can see, to act again in the Aegean.

I do not know well our situation with respect to the friendly and allied Powers because I have not been sent sufficient communications, and I do not know what are the reasons which paralyse our action in the Eastern Mediterranean. I imagine that the interest of those Powers which have invested enormous capital in Turkey counsel them to keep alive and possibly unharmed at least the trunk of the debtor, while the repetition of our blows could cause her collapse. It would be useless for me to say that our interests must be safeguarded before those of others, for it is not certain on this point that I will be allowed to attract the government's attention. Yet I can say that, given the present situation of Turkey, her collapse is probable even without action on our part. And then I ask myself: why should we not exploit the opportunity? Yet we must also be aware that if Turkey, through foreign gold or the support of the Powers, succeeds in staying on her feet, despite sudden blows and old frictions, to us can only come the greatest damage through the prolongation of this war which eventually will demand a summoning of greater effort compared to what we would need now to attack her in such a way as to force her to secure a peace in order to save herself from total ruin.