The regions of the European Union and the people living in them are not all equally well off in economic and social terms. The disparities between different regions in their levels of development and standards of living have long been a fact of life in every Member State. Looked at across the Union as a whole, the divergences are even more marked.
The result is that, in order to stimulate economic activity in the less-favoured regions, private-sector investment needs to be supplemented by public support.…
