Freddy, a Viennese Jew who emigrated to New York after Hitler's invasion, and Adler, a left-wing intellectual originally from Berlin, return to Austria in 1944 as soldiers in the U.S. Army. Freddy falls in love with the daughter of a Nazi, and Adler attempts to go over to the Communist Zone. But with the advent of the Cold War and continuing anti-semitism, the idealism of both characters is shattered as they find themselves surrounded by cynicism, opportunism, and universal self-deception.
During the final days of the First World War, Officer Menis does his duty in defending the battle flag of the defeated Austro-Hungarian empire, while his fellow troops, a motley gang recruited from several different countries not loyal to the royal family, simply try to survive by any means possible.
Arthur Schnitzler's key piece describes the liaisons of his artist colleagues from the Cafe Central, Vienna. Behind the character "Treuenhof" is Peter Alterberg recognized, "Winkler" = Arthur Schnitzler, "Flatterer" = Frida Uhl, "Rapp" = Stefan Großmann, "Willi" = Hans Lang, "Van Zack" = Adolf Loos, and "Lisa" = Lina Loos.
After a frank confession by his wife, a doctor is called to see a dying patient. The cause of the night brings him to meet an old friend, a pianist, who tells him of a mysterious ball where he is due to perform. Based on the book "Traumnovelle" ("Rhapsody: A Dream Novel") by Arthur Schnitzler, which was the inspiration for the film Eyes Wide Shut (1999).