The European Commission must support and stimulate the research and innovation needed to take Europe out of the crisis

Could the Eurozone crisis and austerity lead to a lost decade for millions of Europe’s citizens? Jonathan Grant and Helen Rebecca Schindler write that in the face of the crisis, Europe must invest in research and innovation. With an annual budget of over €10 billion for research and development, the European Commission must now play a leading role in stimulating innovation, at the same time as balancing the tensions between bureaucracy and creativity.