From The Sleepwalkers: How Europe Went to War in 1914, by Christopher Clark (Harper, 2013), pp. 278-279:
The loan had become a dangerous tool wielded by the alliance blocs. This weaponization of international credit was nothing new, but its deployment in this instance locked Bulgaria into the policy of the Triple Alliance, just as Serbia had been integrated into the political system of the Entente.
What was happening in the Balkans was nothing less than the reversal of the old pattern of allegiances. In the past Russia had backed Bulgaria, while Austria-Hungary looked to Belgrade and Bucharest. By 1914, this arrangement had been turned inside out. Romania, too, was part of this process. By the early summer of 1913, Sazonov was inviting the government in Bucharest to help itself to a piece of Bulgaria in the event of a Serbo-Bulgarian war. The time was ripe for such an overture, because the Romanians resented what they saw as Vienna’s flirtations with Sofia; King Carol of Romania also resented Austrian opposition to the Treaty of Bucharest, which he saw as his personal diplomatic achievement. The deepening rapprochement between St Petersburg and Bucharest was formalized on 14 June 1914 when the Tsar visited King Carol at Constanţa, on Romania’s Black Sea coast. It was an occasion heavy with symbolic freight. The only foreign representative to receive a decoration from the hands of the Tsar was the French minister to Romania, Camille Blondel, who had, as it happened, only recently been awarded a high decoration by King Petar of Serbia. Present at the festivities was Ottokar Czernin, the Austro-Hungarian minister to Bucharest, who interpreted the day as the public consummation of Romania’s ‘realignment towards the Triple Entente’.
The consequence was a further drastic diminution of Austria-Hungary’s political influence on the peninsula. Romanian irredentism would now be deflected away from Bessarabia, where it conflicted with Russian interests, and oriented towards Transylvania, where it would threaten the integrity of the Habsburg monarchy. There were, of course, limits to Romania’s willingness to be coopted to Russian objectives. When Sazonov asked the Romanian premier and foreign minister Ion Brătianu what attitude Romania would adopt ‘in the event of an armed conflict between Russia and Austria-Hungary, if Russia should find itself obliged by circumstances to commence hostilities’, the Romanian statesman, ‘visibly shocked’ by Sazonov’s question, gave an ‘evasive reply’. When pressed further, however, Brătianu conceded that Romania and St Petersburg had a common interest in preventing ‘any weakening of Serbia’. That was enough for Sazonov. The Russo-Romanian rapprochement thus constituted, as a French ministerial report observed, ‘a new means for Russia of applying pressure to Austria’. But perhaps the most striking feature of this restructuring of Balkan geopolitics was how quickly it came about. This was not a phenomenon of the longue durée, which would have taken years to undo, but rather a short-term adjustment to rapid changes in the geopolitical environment. In November 1913, Sazonov had told the Belgian minister in St Petersburg that he believed the current Bulgarian reorientation towards Vienna was likely to be shortlived – it was the work of one particular parliamentary faction, supported by the mercurial King Ferdinand, ‘for whom we have not one atom of respect’. Given time, the new Balkan alignment might just as quickly have made way for further adjustments and new systems. What matters is that this particular pattern of alignments was still in place in the summer of 1914.
Serbia was now Russia’s salient in the Balkans. There was nothing necessary or natural about this state of affairs.
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