On March 21, 1931, the German and Austrian governments informed interested foreign governments that they had agreed on a plan to form a customs union. They presented the scheme, not as a step towards the fulfillment of a revisionist aim long held in the two countries, but as a purely economic contribution to European recovery from the depression. However, opinion at home and abroad greeted the project as the prelude to a political union; and the alarm was raised in those countries, notably France and Czechoslovakia, to whom the idea of such a union was inadmissible. Financial and political pressures were brought to bear, the more easily because, as a result of the collapse in May of the great Credit–Anstalt Bank, Austria desperately needed new international support; and the scheme was effectively quashed even before the Permanent Court of International Justice, in September, by a narrow majority pronounced it incompatible with Austria's international obligations.