Edition: International | Greek
MENU

Home » Europe

European Institute for Technology: Barroso in the cold!

By: N. Peter Kramer - Posted: Monday, October 23, 2006

European Institute for Technology: Barroso in the cold!
European Institute for Technology: Barroso in the cold!

EU President Barroso’s dream (see European Business Magazine May-June 2006) to compete the famous US’ Massachusetts Institute of Technology (MIT) by starting the European Institute for Technology (EIT) is not backed by industry and national governments.

Although German Chancellor, a qualified scientist, is backing Barroso’s ambitious idea, she is skeptical about establishing a new big central structure for research in Europe.  

The original idea was to fuse academic and business research to give the US an edge over the EU. An idea developed in line with the EU Lisbon Strategy to make the EU economy the most competitive in the world. In September Barroso said, that industry would ‘play a key role in the project – by defining the strategic agenda; by participating in integrated partnerships between universities, research organisations and industries; and by contributing to the funding’ of the EIT.

At the end of October, Barroso is scrambling for budget as the EU member states and European industry refuse to endorse the project. Barroso had anticipated €800 million of funding by European business, but now he has to accept that there will be no money at all from that side. His spokesman surprised with telling ‘we did not expect industries to contribute from the beginning’ …

There is fear that an EIT will clash with the European Research Council (ERC), that was created in 2005 by Lord Patten, ex-EU commissioner and chancellor of Oxford University. But also European scientists take a negative view of the proposed new institute. ‘It could be another layer of the Brussels’ bureaucracy and spread funding too thinly’, said Peter Cotgrave, director of Campaign for Science and Engineering. But in the opinion of the European Commission, the EIT will be complementary to the ERC, and is not an alternative to it.

Now, the entire €2,4 billion EIT budget for 2008-2013 will come from existing EU funds. The total EU budget for the same period is €862 billion!

READ ALSO

EU Actually

One year after the Draghi report: China’s trade surplus increased by almost 20 percent

N. Peter KramerBy: N. Peter Kramer

At the presentation of his 400-page report in September 2024, Mario Draghi said, the EU will face a ‘slow death’ if it doesn’t quickly close the gap with economic superpowers such as the United States and China

Europe

The EU must define its red lines in a tough new security doctrine

The EU must define its red lines in a tough new security doctrine

Realpolitik, greatly enhanced by television, has in recent weeks sent an embarrassing message around the world – the European Union isn’t the global player it claims to be

Business

The Next Chapter: Governance and Growth for Global South families

The Next Chapter: Governance and Growth for Global South families

In much of the Global South, family-owned businesses are not a side story

MARKET INDICES

Powered by Investing.com
All contents © Copyright EMG Strategic Consulting Ltd. 1997-2025. All Rights Reserved   |   Home Page  |   Disclaimer  |   Website by Theratron