A bottom-up swell of lobbying from researchers in favour of the formation of a European Research Council (ERC) is about as likely as a thunderclap on the Moon. Only science-policy wonks are likely to have followed in detail the public discussion of the idea (see Nature 419, 108–109; 2002 and Nature 419, 249–250; 2002). A correspondent on the topic (Nature 419, 248; 2002) was sceptical about whether Europe is ready — such a funding agency would, it was argued, be bureaucratic and inevitably seek to take funds from existing bodies, which have themselves failed to foster international competitiveness.

Scepticism is understandable given the track record of some national agencies and of debates at the European level. On the other hand, centres such as the European laboratory for particle physics (CERN) and the European Molecular Biology Laboratory are comparatively efficient and have struck a balance between scientific independence and financial accountability. And they produce great science.

These examples may inspire, but a drive from the top down is now required if the idea of a pan-European funding agency, with fundamental research as its top priority and free to fund according to merit, is to succeed. A meeting last week of stakeholders, including representatives of national funding agencies, was a good start. Organized in Copenhagen under the Danish presidency of the European Union, it achieved a strong degree of consensus that an ERC is indeed necessary, despite notable scepticism from the UK Medical Research Council and the CNRS, France's main basic research agency.

We can now hope for practical leadership, especially from Germany, the Netherlands and Scandinavia. The organization of heads of European national research councils (Eurohorcs) is likely to launch a scheme of young investigators' awards in which these and other countries will take a lead. And the European Commission's Sixth Framework Programme is set to boost the European Science Foundation's Eurocores collaboration scheme by 20 million euros (US$19.7 million).

Given such positive signs, and the expressed aims of government heads to boost funds for European science, it would be appropriate for research ministers to establish a new goal: the formation by 2007 of an independent ERC, charged only with funding the best research, with an annual budget in excess of 5 billion euros.