EU approves creation of cybersecurity agency

The European Parliament approved a proposal this week to set up a European cybersecurity agency with the aim of forming a common approach to network and information security.

The European Network and Information Security Agency is slated to begin on Jan. 1, 2004, and last until Dec. 31, 2008, with a budget of €24.3 million ($28.7 million).

In addition to forming a Europe-wide handling of security issues, the agency will also be charged with making sure that assistance on security issues is easily accessible to small and medium-size businesses (SMBs), the Parliament's Committee on Industry, External Trade, Research and Energy decided Tuesday.

The agency will also work on problems such as preventing network failures, computer crashes, viruses and unauthorized interception on communications, the Industry Committee said in a statement. In addition, the agency will also be charged with advising the European Commission, Parliament and other business and community bodies on information security matters.

The agency will be run by a management board composed of five representatives appointed by the European Commission, five by the Council, two by the Parliament and four industry and two consumer representatives. It will also have an advisory board of nine industry, consumer, science and research experts, the committee said.