The Austrian monarchy, also known as the Austro-Hungarian Empire, was a significant European power from 1867 until its dissolution in 1918. It was a dual monarchy, consisting of the Austrian Empire and the Kingdom of Hungary, each having its own government but sharing a common monarch, Franz Joseph I, for much of its existence. The empire was characterized by a diverse population, including various ethnic groups such as Czechs, Slovaks, Croats, and Romanians. The monarchy played a crucial role in European politics, particularly during the World War I era. Its complex political structure and ethnic tensions contributed to its eventual collapse after the war, leading to the establishment of several independent nations. The end of the Austrian monarchy marked a significant shift in European history, as it paved the way for new political boundaries and national identities.