King George V's fateful decision on August 4, 1914, made what could have been a localized war become a global one. However, blame for the conflict really should not rest with him solely. By the time London declared a state of war with the German Empire, the Kaiser and the Tsar had already taken the fateful plunge. England entering the war, made any hope of avoiding the terrible conflict simply impossible.
http://news.yahoo.com/lights-parts-britain-world-war-one-centenary-114010642.html
George V had no control over that though. There's been the recent letter (written not by Grey but by his nephew based on the King's recollections of a brief meeting 20 years prior) and no other evidence the King interfered. But even if it has, how would he deserve a large part, let alone the majority, of the blame? To me, he comes after Franz Josef, Wilhelm and Nicholas. George was only a constitutional monarch and declared war on no one.
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