This book is directed at a wide range of readers interested in transport and/or European policies. It gives an overview of the current problems and challenges facing the European transport system and explains how a new European policy on transport infrastructure is emerging. The author argues that strong action at the EU level is needed to prevent the collapse of long distance transport. Without adequate measures in the transport sector to cope with the increase of trade and mobility associated with the development of the Single Market, European integration will stagnate.The book includes an overview of the actions undertaken in the past and the first comprehensive critical analysis of the Guidelines on trans-European transport networks (TEN's) decided by the Council of Ministers and the European Parliament in July 1996. From this, the author proposes a framework, based on efficiency, sustainability and cohesion objectives, for the establishment of a new multimodal TEN that would supersede the current TENs design. He pays particular attention to the transport implications of both the accession to the EU of Central and Eastern European countries and of the strengthening of the links with the Mediterranean neighbours. After a discussion of the political and financial difficulties of implementing TENs, he makes some practical proposals regarding the interaction between European institutions and the Member States vis-a-vis the new transport infrastructure policy. Finally, the critical questions of decision making and financing of major transport infrastructure projects are analysed to ascertain the many transformations required to introduce market rules in the sector, in particular those needed to attract private financing, and he concludes with some proposals for major changes in the role of EU institutions.