Budget
The ERC budget is guaranteed at €7.51 billion for 2007–2013, the duration of the EC’s 7th Framework Programme. It provided €300 million in 2007 and will increase by ~€250 million each year, reaching just under €1.8 billion for 2013. The ERC budget is supported by the European Commission and is supplemented by contributions from states associated with but not currently members of the EU (the associated countries). Together, the 27 EU member states and the 12 associated countries comprise the European Research Area (ERA) (http://ec.europa.eu/research/era/index_en.html).
Read more about this topic: European Research Council
Famous quotes containing the word budget:
“We might come closer to balancing the Budget if all of us lived closer to the Commandments and the Golden Rule.”
—Ronald Reagan (b. 1911)
“A budget takes the fun out of money.”
—Mason Cooley (b. 1927)
“The United States is the only great nation whose government is operated without a budget. The fact is to be the more striking when it is considered that budgets and budget procedures are the outgrowth of democratic doctrines and have an important part in developing the modern constitutional rights.... The constitutional purpose of a budget is to make government responsive to public opinion and responsible for its acts.”
—William Howard Taft (1857–1930)