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The book investigates an issue that has settled permanently on the political agenda at both national and European level, namely reconciling regional imbalances through an efficient use of structural funds. It aims at showing that centralization of power should not be considered the sole obstacle for the divergent outcomes observed between the old and new member states. New challenges that have emerged on the surface in relation to the absorption and the optimal implementation of the EU funds and the way they have been addressed by both the national governments and the respective bodies at EU level is further point of examination. Through examination of the cases of the frontrunner Ireland and a representative of the new beneficiaries of EU regional aid - Bulgaria, deficiencies in the administrative capacity, lack of stable political and economic environment as well as the low level of participation of non-governmental actors are found to affect the ability of the state to optimize the utilization of the inflow of EU money. An evaluation of whether the regional policy is positioned to adequately address the needs of the newcomers constitutes an additional line of investigation.