The pronunciation of "torschlusspanik" is "tawr-shloos-panik."

Torschlusspanik, which literally means "door closing panic" was a term coined by German newspapers at the height of the Scramble for Africa (during the late 1880s and 1890s) describing the insane efforts by the various European powers to gain a slice of that continent for themselves, often leading to armed confrontations, which at stages nearly lead to outright war (see the Fashoda incident in the related link).

The biggest irony of the phrase was that while Germany were staying out of the Scramble at the time the phrase was coined, Bismarck effectively reversed his formulation of "Germany as a sated power" shortly after, leaving the Germans the last power to start pushing through the door, and consequently the most panicky.