Skip to comments.EU's industrial policy plans hinge on hefty budget increase
Posted on 09/25/2012 5:26:56 PM PDT by Olog-hai
Innovative technologies will form the core of a new industrial policy that the European Commission will put forward next month. But its success relies on a sharp increase of the EUs budget, which will be a hard sell for cash-strapped EU nations struggling to contain their budget deficits.
The EU executives proposed priority action lines for innovative technologiesincluding clean production manufacturing, electric cars, key enabling technologies and smart energy gridsrequire a massive increase in the EU's budget for research and development.
The European Commission wants to see research funds boosted to 80 billion in the EUs next seven-year budget (2014-2020).
By its own admission, the Commissions renewed focus on innovation is based on past failure. In recent years, Europe has witnessed the production of emerging industries like solar photovoltaic cells move elsewhere.
(Excerpt) Read more at euractiv.com ...
The freaks think government spending is good for the economy. Still. After all the evidence to the contrary right in front of their faces.
That figure, along with an increase in regional funds, is reflected in the Commissions proposal for an overall budget of some 1 trillion. The funds for this dream are long gone. Perhaps the Chinese would lend them 1T for the non Euro rights to anything and everything they may discover or invent. The same deal we have if it's good the Chinese get it!
If the new technologies are so promising, venture capitalists would be beating a path to their door.
This is demonstrable insanity.