How to create the European Institute of Technology?

At a hearing on 2 May 2007 on plans for a European Institute of Technology, Members of the European Parliament were generally much in favour of the proposed "Knowledge and Innovation Communities" but they expressed doubts about the legal and financial structure of the EIT project. They heard from experts from universities, research organisations and businesses about the objectives of the EIT and the problems that still need to be solved if it is to be a success.