Adapting to a new funding relationship with Europe: Spain and cohesion policy

Spain has enjoyed substantial net inflows of money from the European Union (EU) since accession in 1986, contributing to a strong growth performance relative to other EU member states. Specifically, as one of the poorer countries in the EU, Spain has attracted large sums of money through Cohesion Policy (embodying the Structural Funds and the Cohesion Fund). However, strong economic growth over the last decade has closed the income gap with the EU reducing eligibility for funding while raising payments to the EU budget