The analysis of a region critical for the future of European stability and development must integrate all security-relevant data, whether military, economic, political or related to transnational risks and threats. Otherwise, strategic analysis and political action will proceed on incoherent paths and the efforts of the international community will be far less effective than desired. Drawing on previous research, this article will try to shed more light on the effects that two major transnational security threats have on Southeastern Europe (SEE): transnational organized crime and drug trafficking.¹ They must be considered together, since drug production and smuggling networks coexist with criminal organizations and exert a crime multiplier for them and for militias, guerrillas and terrorists.