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The Paris Peace Conference had created Yugoslavia after WWI. It was made up of territory that including Serbia, Croatia, Bosnia and Herzegovina, Montenegro and Macedonia, and this mish-mash of nationalities made it almost impossible to hold together. It was dominated by the Serbs and ruled by the Serbian King Alexander, but after years of turmoil and violence, he abolished the original constitution, made himself dictator.
The assassin, Vlado Chernozemski, was a Bulgarian who belonged to a Macedonian revolutionary organisation, which wanted to secede from Yugoslavia. After shooting the King he was cut down by a French mounted officer with a sabre, and then beaten to death by the crowd.
Louis Barthou may have been shot accidentally by a French policeman in the confusion of the moment.
Young Peter fled Yugoslavia when Germany invaded during WWII and set up a government in exile in England. In 1945 he was deposed by Communists and fled again this time to the USA where remanined until he died in 1970.