Common agricultural policy, common budget?

Péter Halmai

Public Finance Quarterly, 2007, vol. 52, issue 1, 92-105

Abstract: The Common Agricultural Policy (CAP) has proved to be the most expensive policy of the European Union so far. Its necessity was first recorded as early as in 1955 at the Messina Conference. It was clear that the common market meant the common market of agricultural produces, too. The common agricultural market required a common agricultural policy, especially a policy for the common agricultural market: different national policies for the agricultural market could have resulted in a distorted common market. The contradictions and costs of the established system, especially the common financing thereof have long been roundly criticised. We are going to overview the common financing of the CAP in an unusual way and highlight possible alternatives, too.

Date: 2007
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