Abstract
The institutional arrangements and mechanisms for preventing and managing conflicts will determine the future of European security and the balance of power in a wider Europe. Russian policy and Russia‐NATO relations are anaylsed within the context of the ongoing changes at Russia's southern periphery. The embryos of three distinct security systems are developing ‐ a Russia‐led, a NATO‐led and one led by the international community. The article suggests that instability in the southern periphery in the future will require security cooperation and a joint approach by Russia and NATO countries.
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