The paper deals with the structure and evolution of the Pieniny Klippen Belt in its classic area in western Slovakia. The so-called Peri-Klippen Zone provides a transition from the Pieniny Klippen Belt s.s. built up by Jurassic to Eocene Oravic units (Šariš, Subpieniny and Pieniny from bottom to top) to the outer margin of the Central Western Carpathians composed of Triassic to mid-Cretaceous successions of the Fatric and Hronic cover nappe systems. The Peri-Klippen Zone attains a considerable width of 15 km in the Middle Váh River Valley, where it is composed of the supposedly Fatric Manín, Klape and Drietoma units, as well as their post-emplacement, Gosau-type sedimentary cover. All these units are tightly folded and imbricated. The complex sedimentary and structural rock records indicate the late Turonian emplacement of the frontal Fatric nappes in a position adjacent to or above the inner Oravic elements, whereby they became constituents of an accretionary wedge developing in response of subduction of the South Penninic–Vahic oceanic realm separating the Central Western Carpathians and the Oravic domain. Evolution of the wedge-top Gosau depressions and the trench-foredeep basins of the foreland Oravic area exhibit close mutual relationships controlled by the wedge dynamics. The kinematic and palaeostress analyses of fold and fault structures revealed only one dominating stress system coeval with development of the accretionary wedge, which is characterized by the generally NW–SE oriented main compression axis operating in a pure compressional to dextral transpressional regime, interrupted by short-term extensional events related to the wedge collapse stages. Younger, Miocene to Quaternary palaeostress fields correspond to those widely recorded in the entire Western Carpathians. Relying on the regional tectonostratigraphic and structural data, the problematic issues of the palaeogeographic settings of the Manín and Klape units, presumably affiliated with the Fatric cover nappe system, and of the provenance of numerous olistoliths occurring at different stratigraphic levels are then discussed in a broader context.