Abstract: What does it mean to build the strategic autonomy of Europe? It is neither a simple nor an easy endeavour. It will take effort to build consensus and more time to agree on a common framework and commit to it, and to make compromises on national objectives. It is all about European sovereignty. It is Europe’s transformation from a giant economic power, into a geopolitical player in the global system. Against a background of accelerating global decoupling trends and great power competition, a drive for European strategic autonomy, acquires a particular significance. But what strategic autonomy will actually mean, what will actually change in terms of funding and organisation, is now less clear. Ultimately it will be about defence and security, enlargement, and deepening.