text: with a permanent secretariat, a verification agency, and a body for crisis management and the settlement of disputes. The beginnings of such bodies are already developing. A verification agency, for example, could build on the inspections envisaged in the Stockholm Document, on the verification system chat will emerge from the Vienna talks and on the air surveillance system being sought at the Open Skies Conference. Other proposals that could be taken up concern verificaion by satellite and a communications system linking the CSCE capitals. CD/PV.561 page 9 Moreover, practical requirements of the disarmament process might make it advisable to create a European agency for arms conversion. A summit meeting of the CSCE States later this year should give concrete shape to the progress on the road to i European security system and provide an impetus for its further shaping. Far-reaching decisions could then be taken at another summit in 1992. For us, Europe is not an end in itself. The ending of the East-West conflict and the positive developments on this continent should also lend momentum to security, disarmament and co-operation on a global scale. It is also clear, however, that a favourable course of development and lasting peace in Europe are possible only if progress is made on the global issues facing mankind as a whole. For the first time in European post-war history there is a chance today of creating within the CSCE framework a regional security system along the lines of article 52 of the United Nations Charter. This will promote the effective implementation of the global security system on the basis of the Charter. The disarmament and confidence-building measures expected to be forthcoming in Europe in the near future will create favourable conditions for disarmament efforts in other regions and the world as a whole. New 
analysis: The text primarily discusses the development of a European security system, including the creation of various institutions and mechanisms to promote disarmament, confidence-building, and crisis management. While it mentions the potential impact on global security and disarmament efforts, the focus remains on European security and cooperation.