Not only have we done a Versailles on Russia but we have also found ourselves in the same weak position as the Great Powers found themselves in the early 1930’s.
We have no will or means of standing up to a resurgent Russia. We have not the treasure – we have blown that in the Middle East and the Credit Crisis. We have not the arms – we spent this in the Middle East. We have no moral authority – we spent that too.
Worse. Putin has Europe by the balls. He is the key energy supplier for Europe.
Worse, the west has made a whole series of promises of security to the new states that we cannot keep.