The Common Agricultural Policy (CAP) is at an impasse. While it is said that existing policies are not tenable, all recent reform plans have been condemned as unacceptable. However, a “bond scheme”, as part of reform that pays more attention to society’s aspirations for the environment and rural development, offers a way forward. This book demystifies the bond scheme proposal and explores concerns expressed by farmers and policy makers. Written by economists, a political scientist and a practising politician, it offers rare insights into EU farm policy.