Mike over at Techdirt makes the point that it is time European politicians stop talking about creating the European version of MIT or Google or whatever and instead start to think about making the next version of something. Hard not to agree. Then again, the label "European" is mostly stuck on projects to make them fundable by the EU – not because they are European in any specific sense aside from name.
Applied Abstractions
Espen Andersen's take on technology, strategy, and many other things
Applied Abstractions 
That’s right.
Moreover, the EU target from Lisbon from 2000 of making the European economy the most competitive and innovative knowledge based in the world by 2010 sounds just like a bad joke.
I agree with Dragos. The Lisbon agreement is originally an evil plan about “how to become rich by stepping at other people”. The bureaucrats in EU are getting higher and higher on my personal “dislike list”. The EU commission has in the last 6-7 years tried to imitate the worst of the American system, for example the patent laws, artificially try to make as big companies as possible, and the imitation of Google is the last stupid bureaucratic move from the undemocratic technocrats in Brussel.