During the 1860s, Austria prospered thanks to "an enormous amount of additional production." (The Panic of Vieana) During this period of prosperity, the German Empire was founded in 1871. With Vienna's market growing and expanding, it became the ideal location for the World's Fair. In the summer of 1873, the Rotunda was built, known as a world meeting place. This structure testified to the important achievements made by Vienna. Unfortunately, a few weeks later, on May 9, 1873, the Vienna stock exchange collapsed. The timing of the accident gave rise to its name "Gründerkrach", or in English "Founder's Crash". The focus shifted from the progress and expansion of Vienna to the panic that ravaged the world (Expo). The crash caused “a very natural panic”, which hit all of Europe as well as the United States (The Vieana Panic); this panic was considered "the panic of 1873". The chaos was international and everyone felt the effects of panic. This crash is very similar to the minor crash that the American economy experienced a few years ago. The recent crash led the country into a recession, unlike the crash of 1873 which led the world into a depression. There are many other reasons why the crash occurred and the short and long term effects of the crash on the international economy. The crash not only crippled Austria, but its effects left its mark on many markets around the world, including London, New York and Berlin. The crash of the Vienna Stock Exchange occurred due to the emergence of unstable banks, speculation and rapid price increases. business. The crash, however, was preceded by a thriving German and Austrian economy. After Germany's victory in the Franco-Prussian War, a...... middle of paper...... The stock market crash had a great influence on the economy and politics and marked significantly significant in the history of the United States. Works Cited “Gründerkrach [Founder’s Crash].” Finanzkrisenspecial. Finanzkrisenspecial, 2011. Web. March 9, 2011. “Gründerkrach und Gründerkrise [Founder's Crash and Founder's Crisis].” German Historical Museum in Berlin. Deutsches Historisches Museum, nd Web. March 10, 2011. Lee, Jennifer 8. “New York and the Panic of 1873.” Cityroom.blogs.nytimes.com. New York Times, October 14, 2008. Web. March 9, 2011 “The monetary panic in Vienna”. Troy Weekly Times XVII.47 (May 24, 1873): 2. American Historical Newspapers. Internet. March 9, 2011. “The Panic of Vieana”. New York Times May 15, 1873: 4. ProQuest Historical Newspapers. Internet. March 9, 2011. “The Vienna Universal Exhibition of 1873. Stock Market Crash and Cholera.” Exposeeum eV Exposeeum eV, 2011. Web. March 9 2011.