The rapprochement between Greece and Turkey that was initiated at the end of the 1990s has managed to contribute not only to the maintenance of peace and stability in this particular hot-spot of Southeast Europe but has also resulted in the enhancement of Turkey’s European Union (EU) accession quest. This article holds that this achievement is a result of the political and socio-economic capital that has been accumulated during this process. It is argued that the continuation of this rapprochement will eventually benefit not only Turkey and Greece but also the EU.