Space Weather (SPW) - By definition the term ‘space weather’ refers to conditions on the sun and in the solar wind, magnetosphere, ionosphere, and thermosphere that can influence the performance and reliability of space borne and ground-based technological systems and can endanger human life or health. This definition also includes cosmic rays. Another basic component of the proposed studies is Solar Weather (SOW), which actually concentrates on the theoretical and observational investigation of the dynamical phenomena in the inner solar atmosphere which are naturally interlinked with subsequent large SPW events. Therefore, the full scale understanding of the nature of both the SOW and SPW conditions and their potential impact on the terrestrial life and communication and navigation systems, a combined multi-disciplinary approach is required. This is the main goal of the international network we are intending to build and in which all members will contribute with their respective complimentary expertise to achieve the announced objectives.The proposed project encompasses following main aspects of cooperation: 1) an organizational component – including the establishment and development of strong links of cooperation between the solar and space physics research groups involved in the project with the aim of building a joint network of excellence by focusing their efforts on solar and space weather studies. 2) a research component - All groups participating in the consortium will contribute with very high level research objectives and developments according to their respective complimentary specialization and track record; and 3) an Educational environment - Creation of the common educational environment of for early stage young researchers.