VOX  CEPR Policy Portal

The EU’s Common Agricultural Policy for the decade ahead is beginning to take shape. This column argues that, as it stands, the policy fails to ensure public goods provision for the EU at large, and the lack of clarity on its payment terms are a concession to pressure from farmers’ lobbies. Without significant changes in the final stages of negotiation, the CAP could become an enormous waste of resources while providing little or no ‘European added value’.