Rebuilding the Atlantic Alliance. Despite the myriad setbacks of recent months, the U.S.-European alliance is not doomed. But repairing it will require a strategic overhaul no less bold than that which followed the end of the Cold War. The key to today's transatlantic divide is not power but purpose. To revive and revamp the alliance, therefore, the United States and the European Union must forge a new grand strategy capable of meeting the great challenges of the era: expanding the Euro-Atlantic community and stabilizing the greater Middle East