IbbN 1U¿¿ - ÕS5V 12 January 1996 The contents of this bulletin are based on RTD-News, updated every day, and other CORDIS databases. SPOTLIGHT ON INNOVATION Major new European Green paper It is one of the great paradoxes of the European Union that despite its internationally acknowledged scientific excellence, it launches fewer new products, services and processes than its main competitors. In other words, it is innovating less and less well at a time when innovation is becoming a driving force in economic competitiveness. This state of affairs, which is the result of a number of structural obstacles (complex legal and administrative environment, inadequate R&D input, unsuitable financing systems), is a serious handicap to European companies and hence to employment. Therefore on the initiative of Mrs. Edith Cresson, Commissioner responsible for research, education and training, and Mr. Martin Bangemann, Commissioner responsible for industrial affairs, telecommunications and information technology, the European Commission has adopted, on 20 December 1995, a "Green Paper on Innovation" in which it sets out proposals for a number of priority actions. this Green Paper, to pave the way for a genuine European OBSTACLES TO INNOVATION strategy to promote innovation.