Regarding the European Neighborhood Policy from an American perspective, the fundamental questions are: will the European Union be able to spread stability without the prospect of membership andwill it do so inways that are complementary to U.S. interests ? Addressing these questions requires not only an examination of technical points, but reflection on Europe’s conception of its role in the world. The real contribution of the EU’s numerous regional policies may be to make Europe the center of a new space where different regions meet.