It provides a critical reconstruction of the history of the idea and praxis of peaceful global governance, a comparative analysis of regional multilateral organisations and a discussion about concrete trends and perspectives of a new multilateralism against the challenging context of the current multipolar power politics. Focusing on the changing European interplay with multilateralism – from Eurocentric cradle of civilian cooperation among sovereign imperial states, to political dwarf after the two world wars and decolonisation, and to potential co-leader of a multilayered and multi-actor cooperation within the current multipolar order, it addresses a theoretical “gap” by fuelling the long-recognised idealism v. realism debate over international cooperation and institutionalisation with both historical and new empirical insights. This book will be of key interest to scholars and students of European studies, global governance, multilateralism, international organisations and more broadly international relations.