EU Parliament OKs Seventh Framework Research Program for 2007-13
The European Parliament gave the go-ahead for the European Union's R&D funding for the period 2007-2013, when Members of the European Parliament adopted 10 reports relating to the Seventh Framework Research Program (FP7). This is the EU's main instrument for funding scientific research and will have a budget of over 54.0 billion euros ($72.0 billion)over its seven-year life.
As the Parliament and Council have settled their main differences through a compromise package (Marketletters passim), FP7 will enter into force on January 1, 2007.
The program is intended to build on the achievements of its predecessor by making further progress towards the creation of a European Research Area, equivalent to a "common market" for research. The long-term goal is for the EU to become the world's leading research area.
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