A Protestant HRE

How would the rest of Europe react if the protestants managed to take control of a majority of the electorates? Which state would most likely end up holding the Imperial title?
 

Faeelin

Banned
I think it depends on how the Empire goes Protestant.

Does Charles V convert? Is the League of Schmaldaken more successful?

If the former, obviously Austria. If the latter, my guess is Saxony.
 
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