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I know that Maximilian of Habsburg (the otl unfortunate Mexican emperor executed at Queretaro) becoming Austrian Emperor and managing to successfully steer his variegated realms towards a liberal, modern and stable course is a bit of a cliche and there have been a couple of TLs on this theme, but it also offers great opportunities and I think it is worthy of a thread exploring it...

So, assuming Franz Josef is assassinated in 1853, how can Maximilian reform the Empire so that it doesn't crumble under the centrifugal forces of nationalism?
A bonus point would be retaining Lombardy Venetia and influence on the Italian Habsburg Duchies as well as avoiding an Ausgleich solution.

Main issues are:
1- institutional reform, maybe granting of a constitution in a couple of years? A central parliament representing all the realms but with limited powers plus a degree of autonomy (especially cultural and economic) for each nationality should be optimal, but I am unsure how feasible it is and how it would actually work.
2- the choice of what attitude to have towards the Crimean war is a decisive issue IMO. Linked to this, the question of alliances: good relations with France seem a good idea to avoid Prussia's rise, but other options are viable too.
3-army reform is important, but which model should be followed?
4-which bride for Max? Helene or Sissies seem the more likely ones, but is there a viable princess who is not a first cousin?
5-improve the economy, creating a real common market and reducing the protectionist policies (often unfair for regions like Lombardy which were on the verge of industrialisation while favouring more loyal areas like Bohemia). Building of more railways is very important to be able to harness the Empire's resources. The stifling bureaucracy should be curtailed.


What are your ideas? How can the Habsburg empire be saved? And what could Maximilian realistically do?
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