Science is reporting on a plan by the European Commission to divert science research funds into a new economic investment package.
In his first big move after about three weeks in office, Commission president Jean-Claude Juncker has proposed diverting €2.7 billion from Horizon 2020, the bloc's €70-billion, 7-year research funding program, into a new "Investment Plan for Europe.”
The launch of the investment fund is covered in this EU Commission press release.
The response from research organisations has not been positive. The League of European Research Universities (LERU) in a statement responding to the announcement, quoted in the Science article:
Money diverted from Horizon 2020 could in theory lead to more private R&I investments and outcomes. In practice however we all know this is unlikely to happen, as money will be diverted to quick win projects that may please politicians and citizens but that will not invest in Europe's future. If we want to survive as a forward looking continent, we must invest in research, innovation and technology.
(Score: 2) by TGV on Friday November 28 2014, @08:30PM
First, there were rumours (leaks, most likely) about a €315G plan. Turned out to be a bit less, since "leveraging" was supposed to multiply an investment of €21G into €315G. Then it turned out that €16G of the €21G wasn't real money, but some vague thing with reserves and guarantees for loans, and the amount had already been put aside for investments anyway. So €5G was new. Now it turns out that half of that is being taken from R&D money. That's so much better than taking it out of the yearly €123G for agriculture and regional development.
(Score: 3, Informative) by Ethanol-fueled on Friday November 28 2014, @10:33PM
Here in the 'States the banksters are even looting [rollingstone.com] pension funds. They're not even trying to hide their highway robbery anymore.
(Score: 0) by Anonymous Coward on Sunday November 30 2014, @11:39AM
Great article, thank you!
(Score: 1) by TheB on Sunday November 30 2014, @09:23PM
What happened to the Micheal Hastings story on CIA Director John O. Brennan that Rolling Stone was going to publish? It's been over a year and I'm still waiting.
(Score: 2) by hoochiecoochieman on Friday November 28 2014, @10:51PM
Be quiet, you don't want to piss off the fat lady in Germany, do you?
(Score: 2) by kaszz on Friday November 28 2014, @08:40PM
Excellent, let's sell the planks at the bottom of the boat. It provides a profit you know! Never mind that the people on board will not be enjoying the benefits for a particular long stretch of time.
Could it be a an attempt to stomp unpleasant dissent from the science community? Or preparation for the TPP agreement that will leave everything up for grabs provided you are a US corporation.