MEPs hold back EIT until viable budget proposed

The Parliament’s industry committee is waiting for the Commission and Council to come up with a realistic solution for the budget of the European Institute of Technology (EIT), before considering adoption of the proposal in plenary this Autumn.

“The European Parliament has now done its part with regards the proposal for the establishment of the European Institute of Technology (EIT),” said the Industry committee’s rapporteur, MEP Reino Paasilinna, after the committee adopted his report on the proposal on 9 June 2007. 

The Parliament’s plan is to vote on the proposal in the plenary at the end of September 2007. However, “before we can adopt the proposal in plenary, we have to make sure that there is a stable financing concept” added Paasilinna, urging the Commission and the Council to come up with “a realistic solution for the budget soon”. 

The Parliament urges the EIT to be funded with fresh money and opposes any plans suggesting EIT financing at the expense of other important innoavtion and competitiveness programmes. The MEPs also voted, during the Industry Committee, to rename the EIT European institute of Innovation and Technology.  

According to diplomatic sources, the Council is currently negotiating on the budget issue, along with the year 2008 budget discussions. 

The Council has approved the Commission’s proposal to allocate some €308.7 million community money for the EIT’s initial phase, from 2008-2013. “It is likely that part of this amount will be assigned for the EIT from the 2008 budget,” said the diplomat.

Finance ministers will discuss the block’s budget for 2008 on 13 July 2007.

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