Adoption of EFSI leaves EU research with a limp

The regulation creating the European Fund for Strategic Investments (EFSI) was formally adopted by the European Parliament on 24 June 2015, paving the way for implementation in the second half of the year.
Following the agreement reached in “trilogue” discussions between the European Commission, the Council and the Parliament, the vote confirmed that the guarantee for the fund will be financed via the reallocation of resources originally dedicated to the Connecting Europe Facility and the Horizon 2020 programme. The increased use of available margins in the budget nevertheless decreases the contribution of Horizon 2020 from 2.7 billion Euros to 2.2 billion Euros. More...