  We consider the properties of a periodic structure consisting of small
alternating 0- and pi- Josephson junctions. We show that depending on the
relation between the lengths of the individual junctions, this system can be
either in the homogeneous or in the phase-modulated state. The modulated phase
appears via a second order phase transition when the mismatch between the
lengths of the individual junctions exceeds the critical value. The screening
length diverges at the transition point. In the modulated state, the
equilibrium phase difference in the structure can take any value from -pi to pi
(phi-junction). The current-phase relation in this structure has very unusual
shape with two maxima. As a consequence, the field dependence of the critical
current in a small structure is very different from the standard Fraunhofer
dependence. The Josephson vortex in a long structure carries partial magnetic
flux, which is determined by the equilibrium phase.
