German Finance Minister emphasises need to take Lisbon objectives seriously
German Finance Minister Hans Eichel used his budgetary speech on 7 September to call on his compatriots to take the Lisbon objectives seriously, and to support a rise in research spending. As a country lacking in raw materials, Germany must use better thinking, better quality products and innovation to stay at the top, said Mr Eichel. 'This means we have to take the Lisbon strategy seriously. Under current circumstances we will not make Europe the most competitive region in the world by 2010, but the goal is the right one,' he said. 'All countries in the European Union are asked to do their bit, us too.' Although admitting that he is often sceptical of quantified goals, Mr Eichel also said that Germany has set itself the goal of increasing research and development (R&D) spending to three per cent of GDP, a common goal for all EU Member States since the meeting between Heads of State and Government in Barcelona in 2002. 'We have set the goal [...]. We must also realise it.' Investing more in R&D was also outlined as a priority by German Chancellor Gerhard Schröder in his Agenda 2010 strategy, launched in 2003. The strategy encompasses a number of reforms aimed at ensuring sustainable growth and competitiveness for Germany.
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