The conference brought together over 150 leading strategists, policy makers and politicians from the progressive centre-left. The purpose of the summit was to debate the future of progressive politics in Europe, and the role of New Europe in a wider world.

This was the first time that the summit was held in Eastern Europe. The event was opened by Hungarian Prime Minister Ferenc Gyurcsany while sessions were chaired by EU Commissioner-designate Peter Mandelson and former French Finance Minister Dominique Strauss-Kahn. Speakers included EU Commissioner Pascal Lamy and former Italian Prime Minister Giuliano Amato.

The conference was held over three days in the conference facilities of Corinthia Grand Hotel Royal, which has the most extensive hotel conference facilities in Budapest and is owned by International Hotel Investments plc.