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Austria lost it's entire empire. The Hapsburg Dynasty ended and Austria-Hungary ceased to exist.
Austria faced no real repercussions from the Treaty of Versailles, save the fact that she could only have a defensive army and not wage any hostile incursions.
Austria-Hungary had been a power player in Europe for sometime at the start of the War, but she was dying and everyone knew it. The problem that dogged her was her multi-ethnic empire and the growth of nationalistic attitudes among people in the world at that time. They had Serbs, Austrians, Hungarians, a few Italians, Croats. These people were Orthodox, Catholic, even some Muslims at the southern tip.
Everyone wanted their own country comprised of their nationalities. World War I gave many of the countries this and finally killed off the Austrian empire.
In it's weakened state, although they may have anyway, Austria allowed the Nazi's to march in and take over the country at the start of WWII.
The country had also bankrupted itself during the war, and due to rations being sent off to the front, many people were starving. Austria herself saw limited battle inside the country and so did not have to "rebuild" buildings. But the people were starving, poor and not sure where to go from there.
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