A new economic stimulus package that is designed to create more than 165,000 employment opportunities in Europe has been launched.

Commissioner Maire Geoghegan-Quinn unveiled the €6.4 billion jobs and growth fund, which is intended to boost research and innovation within the region.

The European Union (EU) money will be made available to an estimated 3,000 small and medium-sized enterprises, in addition to industry groups, universities and research bodies.

According to Ms Geoghegan-Quinn, it will cover an array of scientific, commercial and public policy fields and will enhance the competitiveness of the EU, while also helping to tackle health, energy and environmental problems.

"Investment in research and innovation is the only smart and lasting way out of crisis and towards sustainable and socially equitable growth," she declared.

Those seeking engineering jobs in Europe may also be interested to learn that a recent meeting of the Informal Council of European Employment and Social Affairs Ministers looked at the green jobs market and the expanding low-carbon sector.

Posted by Kate Griffin