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This book provides a full interpretive history of the transatlantic alliance, which has been at the heart of the US and European foreign and security policies since NATO was founded in 1949. Stanley Sloan explores the deep roots of current tensions shaking the alliance as its members face the challenge of adapting to new threats posed by terrorism and proliferating weapons of mass destruction. This comes at a time when the US-European relationship itself is in transition as NATO and the EU are taking new members and seeking constructive ties to Russia. Meanwhile, the United States is trying to adapt its role as the world's only global power, sometimes acting too much like the hegemon that it has become. Concluding with a perspective on the future of transatlantic relations, the author argues that a new Atlantic Community Treaty is needed to ensure the future vitality of Euro-Atlantic ties.