ECONOMY

Greece lagging EU average in innovation

BRUSSELS – Greece is trailing most of its European peers in innovation, according to a chart released by the European Commission on Tuesday.

In the 2008-09 period, Greece ranked 19th among the 27 European Union countries in terms of innovation and significantly below the bloc?s average.

As in most EU member states, the problems mainly concern funding for research and development in both the public and private sectors. Notably, the figure invested by private enterprises in Greece in R