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|From what I remember of similar discussions in Professor Foner's class, we know now that Britain and France were never going to intervene in the American war. (Of course, Northerners and Southerners didn't know that, and even the Europeans might not have been totally aware of it until after the fact) Napoleon III had shown some initial interest in the idea, but was unwilling to act without cooperation from Britain. From the records that available of the concerned ministries and cabinets, they weren't all that inclined to get involved.
Of course, I might be remembering my lectures wrong.