User:Dmitiris/EU Cohesion policy

European Union Cohesion Policy -

Cohesion policy was enshrined in the Treaties with the adoption of the Single European Act (1986). It is built on the assumption that redistribution between richer and poorer regions in Europe is needed in order to balance out the effects of further economic integration. Through three and soon four generations of Structural Funds programmes, the Union has invested around €480 billion in the ‘less favoured’ regions since 1988. Before enlargement, the main beneficiaries were Greece (42.6%), Portugal (35.2%), Ireland (26.7%), the new East German 'Länder' (18.9%), Italy (Mezzogiorno - 17.4%) and Spain (14.7%).