27 MARCH 1915, Page 2

Greece, Bulgaria, and Roumania are still watching each other and

the Allies. In our opinion, no action can now be expected from any of them till the problem of Constantinople is decided. If the Allies are successful in forcing the Straits and getting possession of Stamboul, all three Powers will pro- bably come in on our aide. If, on the other hand, we have a temporary set-back in the Straits, the three Powers in question will continue to follow the policy of "wait and see."