This article explores the strategic importance Turkey holds to the European Union and how Ankara could contribute to the EU’s achieving the status of a veritable global power. It seeks to understand how the often contradictory threads (democratization vs. creeping authoritarianism) in the recent transformation of Turkish domestic politics affects its European credentials. The main argument of the paper is that it is in the core interest of both parties to align their policies in the neighboring regions, namely the Balkans, Caucasus, and the Middle East, especially in the post Arab Spring era. What hinders the genuine EU-Turkey partnership is often the political and tactical short-sightedness of both parties rather than the factual divergence of strategic interests.