Churchill picked up Greenwood's argument and added that, while Reynaud wanted out of the war, he did not want to breach the Allied treaty obligations. If Mussolini became a mediator, he would want "his whack out of us" and Hitler would hardly be so foolish as to let British rearmament continue. He reasserted that Hitler's terms now would be no worse than if Great Britain fought on and was beaten. He reminded his colleagues that a continuation of the conflict would see severe losses inflicted on Germany also. Even so, Halifax said he still could not see what was so wrong in trying out the possibilities of mediation, but then Chamberlain said he did not see what could be lost by deciding to fight on to the end. While the government might, dispassionately, be prepared to consider any "decent terms" offered, Chamberlain asserted that the alternative to fighting on nevertheless involved a considerable gamble.