On April 10 th 2002, Colin Powell announced the formation of a Madrid "Quartet", reviving the agenda of the 1991 Madrid conference with the UN Secretary-General, the EU High Representative for Common Foreign and Security Policy, and the Russian Foreign Minister; the focus of this approach was on pursuing a two-state solution to the Israeli-Palestinian conflict, with the active engagement of outside actors. Since the creation of the Quartet the G-8 has supported its role in the peace process and emphasised the need for the parties to follow the indications of the so-called Roadmap for Peace. The objective of this paper is to analyse the rationale behind the creation of the Quartet, its activities and ultimately its effectiveness. Participation of the Quartet to the peace process underlines the commitment of the international community to the achievement of an equitable settlement of the conflict. The paper focuses on the concept of "multilateralism", and tries to establish if the Quartet creates a genuine multilateral framework for the negotiations. It argues that ultimately what the Quartet really offers is a multilateral "control framework" for bilateral negotiations, and that these bilateral negotiations are supposed to aim at implementing pre-established steps agreed upon by the Quartet without the parties to the conflict. It is the contradictory nature of the Quartet's action that until now has prevented it from becoming an effective instrument of multilateralism.