Europe won´t pay for knowledge economy [R&D spending]

This article examines spending trends on R&D in Europe and compares this with the US and Asia, highlighting the fact that it is far lower. It refers to the Lisbon Agenda which agreed to increase European R&D spending to 3% by 2010 and the fact that so far no progress has been made towards this figure. It also explains the reasons for this, mainly the stagnation in growth in European economies. Mention is made of the high proportion of European engineering and science graduates continuing their careers elsewhere.