Abstract

This paper contributes to the forthcoming debate on the reform of European cohesion policies providing two main recommendations. First, we highlight the need for policies' improvements in order to i) maintain or even increase the resources allocated to less developed regions; ii) simplify procedures; iii) define a mission oriented towards new generations. Secondly, cohesion policiesshould be part of a general European economic governance that includes regional convergence among its general objectives. In this perspective, the future agenda should include three priorities: iv) a golden rule for strategic public investments; v) a suitable fiscal compensation system to compensate the Italian Mezzogiorno and other Eu-15 less developed regions for the competitive disadvantages caused by tax dumping and other national structural imbalances, particularly within the Eurozone; vi) rebalancing current Union geopolitical setups by prioritizing Eu's Mediterranean policies.