Among other things, it entailed the creation of a pan-German racial state structured according to Nazi ideology to ensure the supremacy of an Aryan-Nordic master race, massive territorial expansion into Central and Eastern Europe through its colonization with German settlers, the physical annihilation of the Jews, the Slavs (especially Poles and Serbs), Roma ("gypsies") and others considered to be "unworthy of life" and the extermination, expulsion or enslavement of most of the Slavic peoples and others regarded as "racially inferior". Nazi Germany's desire for aggressive territorial expansionism was one of the most important causes of World War II.
Historians are still divided as to its ultimate goals, some believing that it was to be limited to Nazi German domination of Europe, while others maintain that it was a springboard for eventual world conquest and the establishment of a world government under German control.
The Führer gave expression to his unshakable conviction that the Reich will be the master of all Europe. We shall yet have to engage in many fights, but these will undoubtedly lead to most wonderful victories. From there on the way to world domination is practically certain. Whoever dominates Europe will thereby assume the leadership of the world.
The term Neuordnung originally had a different and more limited meaning than in its present usage. It is typically translated as New Order, but a more correct translation would actually be more akin to reorganisation. When it was used in Germany during the Third Reich-era it referred specifically to the Nazis' desire to essentially redraw the contemporary state borders within Europe, thereby changing the then-existing geopolitical structures. In the same sense it has also been used now and in the past to denote similar re-orderings of the international political order such as the Peace of Westphalia in 1648, the Vienna Congress in 1815, and the Allied victory in 1945. The complete phrase which was used by the Nazi establishment was actually die Neuordnung Europas (the New Order of Europe), for which Neuordnung was merely a shorthand.