Managed CAP Carveout

The most likely outcome is that EU leaders preserve Ukraine's accession path while limiting its near-term access to the Common Agricultural Policy budget. This reflects the political need to reassure Poland, France, Romania and other farm-sensitive member states without derailing enlargement commitments made after Russia's invasion.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.