The EU research priorities for the Seventh Framework Programme

The new EU research priorities have been revealed on the 10th of June by the European Research, Innovation and Science Commissioner Máire Geoghegan-Quinn. There will be a strong emphasis on climate, energy and health issues. Small and Medium Entreprises, which have often criticized the EU for not being supported, are now brought to the center of these priorities. 

The EU budget for research will be at the heart of the next EU budget negotiations. Amid the financial and sovereign debt crisis, this policy could be used as a leverage to support industrial growth in Europe. However the budget amount needs to be discussed as the Common Agricultural Policy still represents 48% of the EU budget, 50 billion euros in 2010.

Link: Euractiv.com -  EU research priorities to be revealed, renamed

The european debt crisis

Whether it be Greece, Ireland, Portugal or Spain, it seems that the European Union will never be able to solve this debt crisis. Whatever decision is made, European member states will keep on struggling against huge side effects. Although European policy makers refuse the fact, for many specialists, Greece will never be able to pay half of its debt back. So why supporting a new rescue plan for the country? Lending money to Greece is risky for lenders as they will at best get 50 to 60% of their loan back. Probably, the greatest fear for European countries is what will happen after Greece's debt default. What will Greece do? Will it leave the EU? How will the financial market react? Are they going to abandon the European bond market? And what about other EU member states struggling with their debt?

German Chancellor Angela Merkel is claiming that the Greek crisis shouldn't have any impact on the EU's economic recovery, meaning that a global solution must be found as German and French banks have huge stakes in Greece. Will the European Summit to be held the 24 and 25 June bring any further explanations for a paneuropean solution?