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\textbf{Abstract}
The discovery by the CMS and ATLAS experiments of a new boson, with mass around 125 GeV/$c^2$ and with properties compatible with those of a Standard-Model Higgs boson, associated with the absence of discoveries of phenomena beyond the Standard Model up to scales of several hundreds GeV, has triggered the emergence of new and promising ideas for future Higgs factories. The TLEP project, a new $\epem$ collider hosted in a 80- to 100-km tunnel, is among the most attractive solutions proposed so far. It has the cleanest experimental environment, produces the highest instantaneous luminosity, will support multiple detectors, can reach energies all the way to the $\ttbar$ threshold,
and would plausibly be upgraded to and, being the natural precursor of a 100-TeV hadron machine in the same
tunnel. tunnel, it offers a long term vision for particle physics. With these characteristics, the measurements of the Higgs properties (couplings, width, invisible width, ...) and of the Electroweak Symmetry Breaking parameters with unprecedented precision become sensitive to the effects of phenomena beyond the Standard Model in the multi-TeV range.
The current understanding A first appraisal of the salient features of the TLEP Physics
potential potential, at the starting point of a more extensive design study, is summarized in this note.