December
National Comparisons
Spain's manpower has fallen considerably since the start of this war (currently 106) while France's and the Ottoman Empire's has slowly increased. While this is a good sign for eventual victory, there are some other factors. The enforced peace with Austria is due to end in about 4 months. it is possible, although not likely, that the O.E. and Austria will be at war again in 5 months. It is notable that Spain has a current labor reserve of 142-it would be 200 if King Iron Warrior was not building anything. It is very doubtful that he has started any new courts or arts centers in the current environment. This means he is building military units. He is not planning on giving up.
Austria's manpower has had some modest improvement. It had gone as low as 28-almost Sweden's level. Austria is still also broke. The reparations were too much-especially in that funding from abroad had dried up-except for Spain. The lack of funds will not be an issue for Austria should it Emperor Matto decide to take vengeance on the Ottoman Empire. There are 4 empires that have almost unlimited funds at this time. Three or 4 of them would be all too happy to Fund Austria's war. Another area that Austria seems to suffering in is textiles. In the peace treaty it had to give up what was most likely a prime supply area of sheep-and timber.
Russia is next in line as an economic basket case-as far as money is concerned. Without the partial reparations and significant funding from France and an occasional gift from the Ottoman Empire, it would be broke or reduced in its ability to do much of anything.

Banking establishments are more dangerous than standing armies.
Thomas Jefferson