The article analyses Common agricultural policy (CAP) Health Check (HC) negotiations process and outcome. It proposes realist, structural economic model, based on Moravcsik's liberal intergovernmental theory, which has distinct conceptual and methodological characteristics from major theoretical models on recent CAP reforms. Instead of focusing on institutionally embedded European policy-making, it is proposed that national interest articulation process is relatively autonomous, that common decisions are determined through two level distributional bargaining games and that policy changes are essentially underpinned by global development of competitive forces. Research is focused on formal statements and positions expressed by actors involved in the process, on economic rationale of different mechanisms and on CAP's economic effects on different interest groups. Analysis which heavily draws from specialized first and second hand resources supports the proposed model. It is concluded that state-structured decision making and economic forces development are driving CAP reforms towards greater national flexibility in targeting and financing. Članek analizira proces Zdravstvenega pregleda Skupne kmetijske politike (SKP) in njegov končni izid. Predlaga realistični, strukturni ekonomski model, osnovan na Moravcsik-ovi liberalni medvladni teoriji, ki se konceptualno in metodološko razlikuje od prevladujočih teorij, ki pojasnjujejo zadnje reforme SKP. Namesto poudarjanja institucionalno vpetega evropskega političnega procesa, model predpostavlja, da je proces oblikovanja nacionalnih interesov držav članic relativno avtonomen, da skupne odločitve določajo dvostopenjska pogajanja in da na aktualne spremembe v politikah ključno vpliva razvoj svetovnih konkurenčnih sil. Raziskovalno delo se osredotoči na formalne izjave in interesne pozicije, ki so jih izrazili akterji vključeni v proces, na ekonomsko vlogo posameznih mehanizmov in na učinke SKP na različne interesne skupine. Analiza, ki črpa iz primarnih in sekundarnih virov, podpira predlagan model. Članek zaključuje, da državo-centrično odločanje in razvoj ekonomskih silnic vodijo reforme SKP proti večji nacionalni prožnosti pri ciljih in financiranju skupne politike.