In what ways was the Allied peace settlement flawed?

Even as civil war raged in Russia and chaos engulfed much of central and eastern Europe, the war in the west came to an end in November 1918. Early in 1919 the victorious Western Allies came together in Paris, where they worked out terms for peace with Germany and created the peacekeeping League of Nations. Expectations were high; optimism was almost unlimited. Nevertheless, the peace settlement of 1919 turned out to be a disappointment for peoples and politicians alike. Rather than lasting peace, the immediate postwar years brought economic crisis and violent political conflict.