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The new socialist government of Spain has changed the foreign policy orientation of the country such that it is heading in the opposite direction of its predecessor. In order to situate Spain in the 'heart of Europe', the government has been trying to institutionalize a specific form of dialogue with France and Germany. At the same time, the government has moved to reaffirm its relations with the traditional partners in Latin America and to instigate an improved understanding with its Mediterranean neighbors. Initiatives to construct a better understanding with the US are underway. The future of this regained partner will depend on the immediate results of these new perspectives.Günther Maihold was Director of the Ibero-American Institute, Prussian Cultural Heritage Foundation, (Ibero-Amerikanisches Institut Preußischer Kulturbesitz), in Berlin (1999-2004) and is currently Deputy Director at German Institute for International and Security Affairs, (Stiftung Wissenschaft und Politik, SWP) in Berlin.