Physics at LEP2

The main physics topics of interest at LEP2, the CERN electron-positron collider with center-of-mass energy in the range (161-192) GeV, are reviewed. Progresses in both the precision tests of the standard model and the field of discovery physics attainable at this machine are discussed. A few results of the analysis of data collected in the 1996 first runs of LEP2 are also presented.