This was the warning in two EU reports presented yesterday.
In the words of Janez Potočnik, the European Commissioner for Science and Research:
“[Our research] shows worrying trends in R&D investment and innovation in Europe. The growth rate of R&D intensity, i.e. R&D expenditure as percentage of GDP, has been declining since 2000. It is now close to zero.
I am afraid that Europe is on track to miss the objective it set itself to boost spending on R&D from 1,9 to 3% by 2010. And the most worrying conclusion of the key figures is that Europe is becoming a less attractive place to carry out research.
I am convinced that Europe needs a wake-up call. If the current trends continue, Europe will lose the opportunity to become a leading global knowledge-based economy.”