Despite some remarkable progress since the onset of the Common Security and Defence Policy (CSDP) in the late 1990s, defence is still perceived across Europe as a core component of national sovereignty and, thus, largely outside of the EU’s competence. Yet, the combined effect of the on-going shift in the distribution of global power, continuing instability at Europe’s periphery, as well as severe cuts in European military budgets all call for stronger defence and security co-operation at EU level. Following a year-long preparatory process involving EU institutions and member states, last December’s European Council adopted a number of conclusions on CSDP. These pave the way for a cautious, but potentially promising roadmap to increase the effectiveness, visibility and impact of CSDP, enhance the development of capabilities and strengthen Europe’s defence industry. Panellists concluded that more cooperation needs to be implemented in the future and spending decisions need to be made more strategically.