The present article aims to show the potential for increasing the legitimacy and the value added of the Common Agricultural Policy that - through the departure from the redistributive logic and thanks to well planned and carefully chosen reform paths - could contribute to enhancing the EU competitiveness on global markets. It is argued that paradigms on which the CAP has been built do not serve the strategic goals of the EU, such as the development of a knowledge-based economy or the adjustments to a dynamically changing external world. The maintenance of the status quo leads to a growing marginalization of this policy in the EU. It is also tantamount to a consent to a hidden renationalization of the CAP. Hence, it is necessary to phase-out regressive payments and instead, to introduce the principles of a targeting policy, allowing for a better allocation of resources from the common budget and for a deeper integration of the CAP with the research and development policy. Currently, this is one of the most promising courses of action. Only a well-designed policy, directing support to specific groups of beneficiaries, merging the agri-food sector with the world of science and recognizing the need for supporting public goods within a precisely defined catalogue, will be able to respond to the new challenges facing the EU.
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