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The hope for Europe as the Cold War ended. Europe today coming from a high-risk situation with great stability to a low-risk situation with less stability. New threats to European security. Aggressive nationalism, racial hatred and ethnic and religious intolerance as some of the major causes for the Bosnian tragedy. Present events in Albania. Europe, despite all the problems and dangers, with a realistic historic chance to build lasting peace and stability in a foreseeable future for all its people, based upon democracy, the respect for human rights, the rule of law and free-market economy. The main challenge in the field of security as seen by Austria as the setting up of effective European crisis-management structures. Some background to Austria's membership in the European Union. Advocating strongly further integrative steps in the course of the ongoing Intergovernmental Conference. The goal to make the necessary political, institutional and technical adaptations of the Union as laid down in the Maastricht Treaty in order to prepare for the coming enlargement. Contemporary Austrian foreign policy. The need for, and nature of, a European security system. The European Union (EU), Western European Union (WEU) and NATO operating in a reciprocal triangular relationship. The important role to play by other European organisations. Five basic principles that the speaker believes will govern a European security system, with a discussion of each. Austria's intention to participate fully and as an equal partner in all decisions concerning Europe's future. Ready to assume responsibility. The speaker's belief that the majority of the people see the need to take bold measures to better the destiny of their own countrymen and of all Europeans.