In this paper I would like to draw on some of the European Science Foundation's past and present initiatives to illustrate how we might build on its strengths – and overcome its weaknesses – in order to capitalize on European scientific potential during one of the most important periods in Europe's recent history. In effect, I would like to set out my personal vision for the European Science Foundation (ESF). This is certainly a fitting time to be looking forward. We are not only on the brink of a new millennium, the ESF is also celebrating its 25th anniversary this year and should take stock of its past achievements and assess how these can be used to enhance European science over the next two and half decades. More crucially, Europe's social, political and economic landscape is undergoing one of its most radical upheavals, spearheaded by the euro and other facets of European union. These developments will inevitably have a major impact on how science is organized, funded and conducted. Like it or not, science is inextricably linked to Europe's socio-economic environment. The challenge is to develop a strategy, and the associated structures and resources, to place science at the heart of the ‘new Europe’.