Maximillian as Emperor of a liberal Greater German Empire

For a while I'm planning to write a TL where Maximillian of Habsburg (OTL Emperor of Mexico) becomes Emperor of a united German Empire.

Therefore following points must be fullfilled:
  • The liberal Revolution of 1848 succeeds (+/- 5 years)
    - uniting all German states into the German Empire
    - brings constitutional Monarchy and parliamentarism to Germany
    - with a Habsburg as monarch​
  • Maximillian becomes Emperor instead of his brother Franz-Josef
  • Germany at least keeps Bohemia and Moravia from the non-german Habsburg empire
- bonus points for other parts it keeps (Hungary, Croatia, Slovenia etc)​


What would this new nation look like? What are it's goals and policies? How would the other european powers react? How would the european grandpower system develop?
 
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