The European Union stepped into the year 2002 with mixedfeelings. On the one hand, the anthraxcrisis and the war in Afghanistan remembered of the terrorist attacks of 11 September 2001. On the other hand, the introduction of the euro notes and coins created a EU-wide feeling of euphoria. In the following twelve months, EU activity was mainly dominated by the impeding eastern enlargement. Moreover, in 2002, the institutional foundations were laid ofwhat will turn out to be one of the mostfundamental transformations ofthe European construction in EU history. As most of these activities will be settled in the years to come, asfor 2002, especially the starting point - the introduction of the euro coins and notes -and the end point- the decision ofthe Copenhagen European Council to welcome Cyprus, Estonza, Hungary, Latvia, Lithuania, Malta, Poland, Slovenia, the Czech Republic and the Slovak Republic in 2004 into the European family - will remain printed in the European memory.