Just a few nitpicky things:

1: Fascism, like I said on the last page, isn't a term you should be using because the word wouldn't have evolved in this timeline. Come up with another term. This being Precipice, we like obscure melodramatic shit. If you are stuck, Veo might have some ideas that the rest of us wouldn't think of. 

1 1/2: The loss of colonies is going to be propped up by A: Colonized people getting access to western educations and using their knowledge to better the condition of their people, B: The fact that your government probably won't be able to afford to properly upkeep the colonies, so you will be relying on the locals more and hamstrung when it comes to defending your interests abroad. 

2: The depression in France is going to be a problem, but the biggest problem is going to be the massive damage done to the nations infrastructure and industry during the war. The problem you will be facing is the difficulty of rebuilding all of that with very little wealth. I think that, considering our WW1 is unrealistically long, the damage to Germany and France would have been so bad that both nations would have teetered on the edge of national collapse. I mean, the German Empire DID collapse in the real world, so the extended length of war would have caused much much more damage.

3: You know, I am as much a leftist as any modern internet kid who isn't sucking off of Daddy's credit card, but I have to point out that taxing the rich itself does not fix an economy. That is more a question of where a state gets its funds to pay for shit; the wealthy or everyone else, since you always have to pick one.