MEPs threaten red light on funds for EU's technology institute

Growing agreement on the structure of the new European Institute of Technology (EIT) threatens to be undermined by serious funding problems.

The German EU presidency is hoping to wrap the issue up by the end of June.

But presidency sources have indicated that if the European Commission does not find alternative funds to cover the foreseen costs of the EIT - to be formally established next year and operational in 2009 - there will be a "huge delay."

The request for a revised...