The EU is strengthening its resilience in response to an increasingly volatile world. After the European Economic Security Strategy was put forward in June 2023, a commitment to implement it in the new EU cycle has now followed, together with the designation of the first-ever Commissioner for economic security. Yet, the exact understanding of the concept and the scope of actions in the strategy remain subject to debate. To be effective, economic security has to be implemented in all policies, with strong governance at the interface of all institutions, and a mechanism to manage the unavoidable trade-offs.