Brussels, 04/12/2007 (Agence Europe) - At the end of November, former French Prime Minister and current MP Laurent Fabius suggested using the mechanism for enhanced cooperation provided for in the European texts to allow those countries which wished to come together to set up a European Research and Innovation Cooperation (ERIC). He suggested setting up an ERIC, initially in the 13 euro area countries, based on four objectives: 1 - a joint research budget managed by a single authority, and which, ultimately, will replace national budgets; 2 - the creation of a joint innovation and re-industrialisation fund to finance Europe-wide or multinational innovative projects proposed by companies and the setting up of an industrial solidarity fund (ISF) which would assist employees affected by relocations and restructuring (to this end, he suggested a number of tools: - a wages-purchasing power insurance, were there to be a drop in wage level following a change of job resulting from relocation; - a wages-training insurance, should relocation lead to loss of employment; - aid for mobility, if relocation results in having to move to work elsewhere); 3 - the creation of a unified legal area for innovative companies: joint, single autonomous patents, joint status for young innovative companies, certain common points in tax laws, thereby laying the foundations for tax harmonisation; 4 - an area of mobility for researchers and students guaranteeing the transferability of health, retirement and unemployment rights. Fabius wants the ERIC to be able to use a percentage of company tax, a “green VAT” differentiated according to how environmental products are, and a tax on fossil fuels and greenhouse gas emissions. Full information is available on Fabius' website: http: //http://www.laurent-fabius.net/article1002.html (B.C.)