 In order to avoid a financial catastrophe, both Prince Milan and Prime Minister Piroćanac asked for the support of Austria-Hungary, having in mind both the survival of the Progressive party government and the need to avoid any radical change of foreign-policy orientation (i.e.towards Russia).Austrian mediation turned to be quite helpful and Prime Minister Piroćanac, in order to appease the situation, instead of an extensive financial report, presented to the National Assembly a draft law on the proclamation of the Kingdom of Serbia, with Prince Milan Obrenović as its new King (the first Serbian king since the Middle Ages), a proposal which was greeted with joy and approval by the deputies.