This essay analyses comprehensively Jiri Kovtun's monograph 'Republika v nebezpecnem svete' (The Republic in a Dangerous World). At first, it briefly introduces its author, one of the most important historians in exile. Subsequently, the general outlines of his interpretation of the inter-war history of Czechoslovakia, from its foundation until President Masaryk's abdication from presidential office, are laid out. This essay commends, among other things, the author's robust efforts to interpret the development of the First Republic within the framework of pan-European politics. Further, it confronts his well-founded conclusions with the opinions of the revisionist stream of Czech historiography in the last decade of the 20th century.