A lot happened in the summer of 2008, especially at the geostrategic level, and this enhanced awareness of the increasingly multipolar nature of the world, no longer dominated by one or two superpowers. However, the various poles that have emerged are far from equal, and this is likely to lead to a dangerously unstable situation. At first sight the most logical response might be to re-create the blocs and thereby recoup a balance of power modelled on the Cold War; this did, after all, deliver half a century with no major war. The reality is clearly not so simple, and CARA, which since 1991 has been a vehicle for IHEDN (Institute for Higher National Defence Studies) students to take a strategic approach to current affairs, has decided to analyse the situation, looking at possible consequences of these events and trying to identify any les-sons that might be learned from them. Particular emphasis has been placed on Europe’s options in selecting both a role and a position in this turbulent world.