Each of the belligerent States sent its best man to the peace conference.  Greece was represented by M. Venezelos, Servia by M. Pashitch, Roumania by M. Jonescu, Montenegro by M. Melanovitch, and Bulgaria chiefly by General Fitcheff, who had opposed the surprise attack upon the Servians.  The policy of Bulgaria at the conference was to satisfy the demands of Roumania at once, sign a separate treaty which would rid her territory of Roumanian troops, and then treat with Greece and Servia.  But M. Jonescu, who controlled the situation, insisted that peace must be restored by one treaty, not by several.  At the same time he let it be known that Roumania would not uphold extravagant claims on the part of Greece and Servia which they could never have advanced were her troops not at the gates of Sofia.  The moderate Roumanian demands were easily settled.  Her southern boundary was to run from Turtukai via Dobritch to Baltchik on the Black Sea.  She also secured cultural privileges for the Kutzovlachs in Bulgaria.  The Servians, who before the second Balkan war would have been satisfied with the Vardar river as a boundary, now insisted upon the possession of the important towns of Kotchana, Ishtib, Radovishta, and Strumnitza, to the east of the Vardar.  With the assistance of Roumania, Bulgaria was permitted to retain Strumnitza.  The Greeks were the most unyielding.  Before the war they would have been perfectly satisfied to have secured the Struma river as their eastern boundary.  Now they demanded much more of the Aegean seacoast, including the important port of Kavala.  The Bulgarian representatives refused to sign without the possession of Kavala, but under pressure from Roumania they had to consent.  But they would yield on nothing else.  The money indemnity demanded by Greece and Servia and the all-around grant of religious privileges suggested by Roumania had to be dropped.  The treaty was signed August 6, 1913.

In the mean time the Powers had not been passive onlookers.  Austria-Hungary insisted that Balkan affairs are European affairs and that the Treaty of Bucharest should be considered as merely provisional, to be made definitive by the great Powers.  On this proposition the members of both the Triple Alliance and the Triple Entente divided.  Austria and Italy in the one, and Russia in the other, favored a revision.  Austria fears a strong Servia, and Italy dislikes the growth of Greek influence in the eastern Mediterranean.  These two States and Russia favored a whittling-down of the gains of Greece and Servia and insisted upon Kavala and a bigger slice of the Aegean seaboard for Bulgaria.  But France, England, and Germany insisted upon letting well-enough alone.  King Charles of Roumania, who demanded that the peace should be considered definitive, sent a telegram to Emperor William containing the following sentence:  “Peace is assured, and thanks to you, will remain definitive.”  This gave great umbrage at Vienna; but in the divided condition of the European Concert, no State wanted to act alone.  So the treaty stands.