I venture to think that in future the Czechoslovak State cannot be maintained as an independent entity. You will find that in a period of time which may be measured by years, but may be measured only by months, Czechoslovakia will be engulfed in the Nazi régime. ... It is the most grievous consequence which we have yet experienced of what we have done and of what we have left undone in the last five years-five years of futile good intention, five years of eager search for the line of least resistance, five years of uninterrupted retreat of British power, five years of neglect of our air defences.