Speaking of the first major event of 1912, it must be the compromise of British Empire in warship construction.
Although the modification of the naval plan was not publicized broadly, the sudden cancellation of certain shipbuilding plans by certain British shipyards still attracted media attention throughout the United Kingdom and Europe, especially the Germans.
Originally, everyone thought the British must be preparing a big move, but after waiting for a long time, those shipyards that canceled their shipbuilding tasks had no news, which forced everyone to believe one fact: the British Empire actually compromised on warship construction.
For the German Empire, this might be the best news in the second decade of the 20th century.
If everything were to go according to the British's previous crazy construction plan, the High Seas Fleet could never possibly compete against the Royal Fleet.