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IOTL both the Italian and Austro-Hungarian navies adopted a very cautious fleet policy, neither navy engaged in extensive operations far from their bases. Instead remaining within the confines of harbors and not attempting to play a part in the war.
But what if that was not the case. What if both Italy and A-H used their fleets aggressively in the Adriatic? What if the two fleets met in an open battle? Who would likely emerge on top assuming the two fleets were more or less evenly matched? Assume Four Dreadnoughts each, four armored and six protected cruisers. And a flotilla or two of destroyers each.
Also assuming Italy won what would the likely effect of the war be?
The likely effect of an Austro-Hungarian victory?