It has become only too apparent that in the proposal of a conference which we made, which Russia, France, and Italy agreed to, and which Germany veto… - Edward Grey, 1st Viscount Grey of Fallodon

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It has become only too apparent that in the proposal of a conference which we made, which Russia, France, and Italy agreed to, and which Germany vetoed, lay the only hope of peace. And it was such a good hope! Serbia had accepted nearly all of the Austrian ultimatum, severe and violent as it was. The points outstanding could have been settled honourably and fairly in a conference in a week. Germany ought to have known, and must have known, that we should take the same straight and honourable part in it that she herself recognised we had taken in the Balkan Conference, working not for diplomatic victory of a group but for fair settlement, and ready to side against any attempt to exploit the Conference unfairly to the disadvantage of Germany or Austria. The refusal of a Conference by Germany, though it did not decide British participation in the war, did in fact decide the question of peace or war for Europe, and sign the death warrant of the many hundreds of thousands who have been killed in this war.