Welcome. This is Anastasia Yuglova bringing you the Cato Daily Podcast.

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The European Union's Common Agricultural Policy is one of the most protectionist subsidy regimes

in the world.

In spite of partial reform, the cap remains an immensely wasteful farm subsidy program that harms

European consumers as well as some producers in developing countries.

Patrick Messerlin, director of the Group of Economy Mondial at the Institute of Politique

of Paris, joins us in this podcast to discuss options. de Connyé de

Montreal at the Institute Politique de Paris

joins us in this podcast to discuss options for further reform.

What are the components of a good agricultural policy?

Well, the first one will be to be not

distortive in terms of the food product productions.

I mean that the farmers will really produce farm products

that they should produce according to their land, their

skills, their climate and weather etc. And of course we are very far from that

because everything in the current Agrito Policy are precisely inducing the farmers to do something they should probably not do in a normal case.

Now there is a second component that would be a minor, less important, but nevertheless important, it's to take into account

the so-called environmental framework.

And here the big question is how do you define that? And I think it's not easy to define that at the level of the

community the European community if I may talk about the community it's too big it's not even

...