The Compact for Open-Access Publishing Equity supports equity of the business models by committing each university to "the timely establishment of durable mechanisms for underwriting reasonable publication charges for articles written by its faculty and published in fee-based open-access journals and for which other institutions would not be expected to provide funds."

Commissioner Máire Geoghegan-Quinn announced nearly € 6.4 billion of European Commission investment in research and innovation. The package, the biggest ever, covers a vast range of scientific disciplines, public policy areas and commercial sectors. This funding will advance scientific boundaries, increase European competitiveness and help solve societal challenges such as climate change, energy and food security, health and an ageing population. Around 16,000 participants from research organisations, universities and industry, including about 3,000 SMEs, will receive funding. Grants will be awarded through "calls for proposals" (invitations to bid) and evaluations over the next 14 months. Many calls will be formally published on 20th July. This package is an economic stimulus expected to create more than 165.000 jobs. It is also a long-term investment in a smarter, sustainable and more inclusive Europe. It is a key element within the EU's Europe 2020 Strategy and in particular the Innovation Union Flagship, which will be launched in autumn 2010.

The Council today took an important step in the implementation of the new Europe 2020 strategy for jobs and growth, by adopting a recommendation establishing new broad guidelines for the economic policies of the Member States and of the Union.

Press release from the Council of the European Union