Many people in the Confederacy expected certain European nations to recognize its new government. The main reason was that the South was a main source of cotton for England as example. At various times during the US Civil War, England came close to recognizing the Confederacy as an independent nation. As it turned out, Confederate battle losses combined with its institution of slavery caused them to defer on official recognition. With that said, the French and British continued to trade with the South.
What Confederate leaders failed to take into consideration was that some Europeans were less inclined to offer official recognition to the South because they did not wish to be seen as victims of Southern extortion. This pertained to a minority of European leaders.
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