A few months later he was appointed ambassador in
London (March 1906), but in May, on the fall of
Sidney Sonnino's ministry and the return of Giolitti to power, he was again summoned to the Consulta (the Foreign Ministry). He continued the policy of improving relations with
Austria-Hungary, which did not contribute to his popularity. After the
Bosnian crisis and the annexation of
Bosnia-Herzegovina by Austria-Hungary, his imprudently worded speech at
Carate created the illusion that Italy was to be compensated, perhaps by the cession of the
Trentino, and the disappointment when nothing of the kind materialized greatly weakened his prestige. He remained in office until the fall of Giolitti in December 1909. The Tittoni family had interests in the area. In 1907, the
Banco di Roma founded a branch in
Tripoli and built significant interests in banking, shipping and agriculture. The bank's vice-president was
Romolo Tittoni, the brother of Tommaso Tittoni. The bank also financed the important newspaper ''
Corriere d'Italia'', which campaigned for the
Italo-Turkish War in 1911. On 24 October 1909, Tittoni and the Russian diplomat
Aleksandr Izvolsky exchanged diplomatic notes on an informal agreement, known as the
Racconigi Bargain, for Russia and Italy to support each other's interests in the Balkans and in the
Ottoman Empire, at the Italian city of
Racconigi, Tsar
Nicholas II of Russia was hosted by King Victor Emmanuel III. Italy and the Russian Empire concluded another agreement with
Austro-Hungarian Empire a few days later disregarding this agreement. In April 1910, he was appointed ambassador in
Paris. ==World War I and Paris Peace Conference==