This paper looks at the key political dynamics involved in the process of Turkish accession to the EU, on both the Turkish and the EU sides. It asks: whether Turkish political reforms will be successfully completed and what are the main challenges; what will be the most important issues in negotiations and how the political dynamics around the negotiation process may develop, and what political impact Turkey will have on the EU, given its size, location, and its ongoing and radical political, economic and social transition? The report was presented at the seminar The Political Implications of Turkish Accession to the EU and is a part of the research project Borders of the new EU - possibilities and challenges.