This study argues that the states of Southeastern Europe must devote special emphasis to the promotion of an arms control regime in the region which will aim at achieving three particular goals, i) conflict prevention, ii) crisis stability and iii) arms race stability. To this end a hypothetical, yet necessary, political framework for organizing arms control efforts in the peninsula will be described. The study is divided into three parts. Firstly, an account of the trends and characteristics of the post–Cold War Southeast European security environment is given. In addition, the current status of the arms control enterpise with respect to both intra–state (i.e., the arrangements entailed in the Dayton Peace Accord) and inter–state conflict (i.e., the agreeements concluded and implemented by Southeast European states on bilateral and multilateral level) is presented. Particular reference is made to the Greek–Turkish arms race and its consequences for the region?s stability.