The Panama canal not only wiped hundreds of thousands' savings in France, it also triggered a massive scandal for the implication of a number of députés and what they knew and feigned to ignore, all the way up to the Presidency itself. It was the start of a strong antiparlementarian feeling in a large part of the population, some of which found a way to express itself soon after in the Dreyfus Affair.
Then there is the fate of the Southern Cone to consider. Up till 1914, they did very well for themselves, being mandatory waystations for ships going from the Atlantic to the Pacific, their standards of living were some of the highest in the world. Exports of beef continued to sustain Argentina during WWI, but I think after that the Panama canal opened , it meant growing irrelevancy, gradual and relative impoverishment, which led in turn to domestic troubles.