The situation indeed was this: Austria was liable at any moment to be attacked by both Italy and Prussia; it would probably be beyond her strength to resist both assailants at the same time.

A wise statesman would probably have made terms with one or the other.

He would have either surrendered Venetia, which was really a source of weakness, to Italy, or agreed with Prussia over the Duchies and the German problem, thereby gaining Prussian support against Italy.

The honourable pride of Mensdorf and the military party in Austria refused to surrender anything till it was too late.
None the less, the constant fear lest Austria should make terms with one of her enemies for a long time prevented an alliance between Prussia and Italy.

The Italians did not trust Bismarck; they feared that if they made a treaty with him, he would allow them to get entangled in war, and then, as at Gastein, make up his quarrel with Austria.