Vienna is celebrating New Year’s Eve 1913/14. It is the year, which will see the outbreak of the First World War. In Hotel Sacher, the mood is excellent; and although the political atmosphere is charged, there’s an undercurrent of hate and intolerance in the air. It is with this background that Nadja, a Russian spy, meets the Austrian civil servant Stefan. He loves her, but comes under suspicion of being an agent because of this love.
Vienna, 1922. Due to a sudden financial tragedy, a young woman begins accepting checks from an older, rich gentleman for companionship in order for her to keep attending college. Their relationship is purely platonic, but eventually she begins a romance with the tutor of the older man's sons who has a completely wrong impression as to the nature of her arrangement with his employer.
In this romance, a banker's daughter suddenly breaks off her engagement on her wedding day. She then meets a man who believes in easy money. He sees her as his meal ticket and the two take off together.