Not all treaties succeed equally in bringing peace. Some of them exceed expectations by making a major contribution to the international system, such as the 1648 Treaty of Westphalia and the Congress of Vienna. Others have failed to secure peace, such as the Versailles Treaty of 1871, leading the resentful and embittered French to take their revanche from the Germans 38 years later in the same room at the Versailles palace. There are yet others whose effectiveness or fairness have been called into question in retrospect, reflecting a variety of perspectives gained with the passage of time. The Treaty of Lausanne seems to bear partial similarity to a range of peace treaties. Today it retains its significance not only for Greece, Turkey, and the region, but also for the history of European conflicts that transformed the continent since the nineteenth century. In line with the current interest in the topic, this chapter attempts to situate the Lausanne Conference in the context of Europe’s imperfect pursuit of stability.