The Mediterranean region is one of the world's most conflict‐prone regions and has, as a result, been subject to a large number of initiatives designed to reduce its conflict potential, including the multilateral track of the Middle East peace process, the Mediterranean Forum, the Barcelona Process and the Dayton Peace Agreement. The introduction of the Euro‐Mediterranean Partnership Initiative provides an opportunity for an integrated initiative. France has proposed a ‘Stability Pact’ as an initiative within the context of the European Union's common foreign and security policy. Malta has now made a similar proposal, which predates the French initiative and which, because it is designed to operate both within the Barcelona Process and outside it ‐through a series of working groups ‐ offers the possibility for a more comprehensive and effective solution of the potential for regional conflict.