EU'S NEXT STEP FOR RESEARCH: European Union launches 5th Framework Program to fund science and technology projects

When the new year begins, the world's economic eyes will be on Europe as it launches its biggest step toward unity—the single currency, or euro. But to followers of science and technology, another European event of some moment is also occurring— the beginning of a renewed science and technology deal for Europe in the form of the European Union's 5th Research & Technological Development Framework Program, or F5. Each framework program is administered by the operating arm of the EU, the European Commission (EC). The first was launched in 1982 with a $4.4 billion budget over five years. F5's four-year total is $17.5 billion and is composed of eight programs, including those of the EU's eight "national laboratories" that are part of its newly revamped Joint Research Center. The common currency is not expected to have much effect on research performance per se. But the euro's strength or weakness could affect Europe's international ...