The transatlantic disagreement over how to deal with the regime of Saddam Hussein in 2003 gave rise to a spate of warnings about the imminent demise of NATO. (1) To some extent it is easy to discount many of those predictions based on the endurance of the alliance and its ongoing expansion. But there is an underlying concern that should not be ignored: The original mission of the alliance disappeared 15 years ago and nothing has completely taken its place. Throughout the Cold War, NATO was seen as absolutely essential to the core security interests of its members. Regardless of the disagreement, nothing undermined the fundamental necessity of the alliance. That has not always been the case for the past 15 years. NATO is still a vital alliance with unique capabilities, and although it is involved in stabilization operations from the Balkans to Afghanistan, those missions are generally not viewed as essential to the core security interests of its members. If they were, the political and military leaders of NATO would not have to shuttle between European capitals begging for a few more helicopters and combat forces to be deployed beyond Kabul, nor would members of the US Congress muse openly about a rapid withdrawal of American forces from Afghanistan. Yet, perhaps those missions should be seen as central to American and European common security given the interests underscored in the European Security Strategy and the National Security Strategy of the United States. Both documents outline similar threats and emphasize the importance of alleviating the underlying causes of instability in the developing world. NATO member militaries are often said to be in the process of transformation, but perhaps it is time to consider transforming NATO itself into an institution capable of coordinating the range of assets and capabilities required to perform stabilization and democratization missions likely in the coming decades. Doing so would make NATO the coordination point for long-term stabilization and democratization missions involving a broad range of military, paramilitary, and civilian capabilities. Adding this capability would involve creating deployable modules of different types of forces and capabilities. These organizations would range from military units to legal and civil administration experts capable of assisting in the creation and management of institutions vital to the promotion of long-term stability and development. This would be a radical change for the alliance, but it would refocus NATO on the issues that both sides of the transatlantic alliance recognize as central to their mutual security. It would also do so in a way that gives more weight to the civilian and paramilitary capabilities that Europe brings to the table, thus creating a more balanced alliance with a common purpose. This article explores why and how this could be accomplished by focusing on the interests and capabilities of the members of the transatlantic alliance. First, it compares the European and American strategy documents. Despite the tendency to focus on the differences, there are points of commonality that indicate broad agreement on the challenges and necessary responses. Second, it examines how European and American strengths could be combined to produce robust long-term stabilization and democratization missions. Third, it will argue that it is in the interests of both the United States and Europe to reconstitute the transatlantic alliance around stabilization and democratization missions within the institutional framework of NATO. US and European Security Strategies Since 2001 diverging threat perceptions between much of Europe and the United States have become increasingly clear, but there are still some rather strong similarities. The European Security Strategy (ESS) and the National Security Strategy of the United States (NSS) both highlight the critical intersection of terrorism and weapons of mass destruction, state failure, and the danger of regional conflict. …