Since the Commission’s proposal of 12 October 2011, the new reform of the Common Agricultural Policy is now in the hands of European decision-makers. This new phase, which extends a remarkable reform process since 1992, allows adaptation of European agriculture to a radically-changed context and makes it an asset for the European Union. But will it measure up to the challenges and criticisms that the CAP is still subject to? In this Policy Paper, Louis-Pascal Mahé outlines the main points of the reform, giving an attentive and detailed analysis of the Commission’s proposal, which he believes is moving in the right direction and sending the right signals for the future, but remains limited as regards the extent of actual changes. He suggests some significant and realistic amendments to strengthen greening, capping and the rationale of the CAP pillars after 2013. Based on field observations and recent debates, he puts forward constructive proposals such as the use of spatial grids for ecological surfaces, ecological corridors and even the creation of a third pillar.