LANDMARKS OF REGIONAL DEVELOPMENT IN THE E.U.

Regional development policy strengthens the role and responsibilities of local public administration and of regional organisms in the economical and social development of localities and developing regions, at the same time, diminishing the implication of governmental institutions in these matters. We have in view the diminishing of present regional imbalance, emphasizing the stimulation of balanced development and the revitalization of disadvantaged areas (with delayed development). The main idea is that the minimization of disparities can occur only through the regions’ gaining of competitive capacity. Furthermore, we will succinctly present the manner of creating the medium size regions (NUTS 2) in the E.U., which can or cannot have an administrative role and differ in size. Their main part is that of running regional politics. The Structural Funds aim at accomplishing certain objectives, among which the convergent objective has a considerable share regarding financial allotments. The role of the member states is that of creating Operational Programs for accessing funds, which are to be adopted by the European Commission, and once adopted, they are to be implemented.