The Multiannual financial framework 2021–2027 and Next Generation EU - A turning point of EU multi-level governance?

The agreements on Next Generation EU (NGEU) and the Multiannual Financial Framework 2021–2027 (MFF 2021–2027) are extraordinary milestones for the EU integration process. Not only do both regulations have important redistributive effects within a defined timeframe, but both regulations shape the hierarchy of objectives and instruments of EU budgetary policies. This is particularly true for cohesion policy, which has been characterised as the model of EU multilevel governance (MLG). Drawing on historical institutionalism and Peter Hall's classification of policy change, this text examines the dynamics of change in MLG. In particular, this research looks at the timing and scope of changes in EU cohesion policy since the 1980s. We ask whether or not the adoption of NGEU and the MFF 2021–2027 is likely to represent a critical juncture for the MLG and to what extent both regulations modify objectives and instruments of cohesion policy. [ABSTRACT FROM AUTHOR]