ABSTRACT
The European Community is set on a course towards greater integration during the 1990s. This will be a process of great significance for the regions, especially if it binds the Member States into a single currency area by the end of the decade as foreseen under the Maastricht Treaty. In recognition of these challenges the European Community plans to transfer nearly 160 billion ecu (1992 prices) to the weaker Member States and regions over the period 1994 to 1999. These resources represent a considerable vote of confidence in a regional policy which has only effectively existed at the Community level since 1989.
