EU economic growth hampered by careless research spending

Failure to ensure that research and innovation money is spent on useful projects is hampering the EU's economic recovery, a new report has said.

Published on Wednesday (4 May), the study by Ernst and Young, the global accountancy firm, suggests that while the EU puts enough money towards R&D projects, the cash is carelessly spent.

"It is not the quantity of public funding of R&D and innovation, but rather its quality that hampers EU's economic recovery," says the survey, noting th...