Italy’s strategic problem is close to home: it needs ships that can fight France in the Mediterranean rather than roam the oceans as independent raiders. France is constrained by parity with Italy and cannot easily protect both the Mediterranean and its wider empire. Transferring the allowance has a later treaty precedent in the British movement of tonnage between heavy- and light-cruiser categories. Both powers would probably convert the category into fast-battleship strength, even though that leaves France in the weaker position.
Notable Point · 39:03-46:13
Why France and Italy choose battleships over battlecruisers
France and Italy are better served by moving their theoretical battlecruiser allowance into battleship tonnage for a Mediterranean rivalry.