In lieu of the recently rejuvenated EU-facilitated dialogue between the governments in Belgrade and Prishtina,this Policy Note aims to briefly illustrate the history of the dialogue and the complications that arose during the first phase of talks which lasted from March 2011 – February 2012, to analyze the rhetoric and substance of thefirst three rounds of the second phase of the now high-level dialogue which is taking place between Kosovo‟sand Serbia‟s prime ministers and is being facilitated by the EU High Representative, to examine the political positioning and underlying political aspirations of the EU and the governments of Kosovo and Serbia, and to offer recommendations and, in cases, historically-conditioned cautions regarding the future of the dialogue and the way forward.