Since the EU launched the "Europe 2020" Strategy, it becomes more apparent of the EU's target at keeping line with the US in science and technology by stepping up its research and innovation capabilities. As an integral part of the European Research Area(ERA), "Innovation Union" tabled by the European Commission on October 6 2010 acts as well as one of the most effective tools and measures for tackling the European debt crisis in order to rebalance public finance and boost economic competitiveness. In addition, the EU focused its efforts on European Innovation Partnership in an attempt to complete the European Research Area in 2014.
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