With regard to Bulgaria, the interest of Greece is twofold. It consists, in the first place, in preventing, as speedily as possible, a continuation of those systematic persecutions, deportations, outrages and robberies of which the Greeks of Turkey and of the invaded regions of Serbia are at present the victims. But, above all, Greece has a really vital interest in preventing the government of Sofia from carrying out its plan of supremacy in the Balkans (see the map on p. 133). It is well known at Athens that the Bulgarians covet Salonika, and that if, even without including that city, Great Bulgaria extended to Albania, Greece would thereby be cut off from the north of Europe by a rancorous and implacable neighbour, and would thus find herself in an untenable position, alike from the military and the economic point of view. It is this serious danger that is emphasized by the organs of M. Venizelos, who since 1909 has been truly the saviour of Greece. As this conviction is deeply rooted in the heart of almost all Greeks, who view with irreconcilable aversion the Bulgarians as their hereditary enemies, it constitutes a mental factor which, more than any other motive, will at last, in all probability, open the eyes of Greece to the danger which she incurs through the alliance of the Bulgarians and the Germans. But though the Pangerman plan in itself threatens the interests of Greece most directly, we must recognize that this truth has not yet been sufficiently apprehended by Greek public opinion. Nevertheless, it is manifest that Great Germany’s ultimate aim is to rule at Salonika, perhaps not at first directly, but at all events through the agency of the Prussianized Bulgarians. But the great railway which, starting from Vienna, goes by Belgrade, Nisch, Uskub, and Salonika, now ends at the Piræus, since, quite lately, the junction has been effected by the continuation of the Greek line of Larissa from Papapouli to Guida, a station on the trunk line from Salonika to Monastir. In consequence of this junction line, 96 kilometres long, a great Continental railway has just been completed, which, after peace has been concluded, will have a considerable economic importance for Greece and even for the whole of Europe. In fact, the distance of Marseilles from Alexandria is 1,404 sea miles, that of Brindisi from Alexandria is 836, and that of the Piræus from Alexandria is only 514. Supposing, then, that the average speed of the mail steamers is 15 miles an hour, we infer that the voyage to Alexandria takes about 93 hours from Marseilles, 55 from Brindisi, and only 34 from the Piræus. The new railway will therefore be greatly preferable, not only for travellers, but for perishable goods and for the post. Hence it is indisputable that, after the peace, part of the sea traffic of Europe will be transferred from Marseilles and the Italian ports to the Piræus. From this transference of economic activity