At the moment of the outbreak of the First World War, Liechtenstein was in a fundamental sense dependent on Austria. The consequences of the war were therefore very difficult for Liechtenstein. They affected both the economy and the political sphere, where calls for new political and civil rights can be noted. After the end of the war, this led to the issuance of a new constitution (1921) and also to a new direction in foreign policy. This was also followed by a redirecting of economic relations towards Switzerland (currency, 1924 Customs Union Treaty). At the same time, Liechtenstein sought a way out of the economic crisis in new legislation (Personengesellschaftsrecht 1926).