This article addresses the issue of the relationship between securityspeak and regional cooperation in Northern Europe. In the post-Cold War period, it is argued, regional cooperation has been driven by a mixture of realist-and liberalist-based security discourses. While realism results in cooperation through othering, liberalism rather promotes cooperation through inclusion. On the whole, security has been a unifying theme, not a divisive one. European Union and NATO enlargements, however, are undermining the security bases of regional cooperation. The article asks the question of what will happen to regional cooperation if security is removed from the frame. Will regional cooperation wither away as a political project? Or will attempts at re-securitization be made to rejuvenate regional cooperation? Either way there are apparently difficulties in thinking of regional cooperation without relying on security for motivation and justification. Through a revisionist account of Nordic cooperation that challenges the idea that Norden is a security community par excellence and is rather driven by asecurity concerns, a way out of the security-cooperation dilemma is offered.