Is EU Getting on Right Track to Foster Entrepreneurial Development?

The National Dialogue on Entrepreneurship reports that the European Union plans to move decidedly in the direction of a planned economy. They will be funneling billions of Euros into information technology and renewable energy. Such governmental picking of economic winners is quite likely going to lead to little long term benefit, as such initiative have rarely succeeded over the long-term.
But as part of this announcement, the EU said it will be focusing its efforts on reducing regulation of small and medium enterprises. On the face of it, this is a policy that could help spur more entrepreneurial development across Europe.
However, as Europe has a long history of governmental and cultural barriers to entrepreneurship, they will have their work cut out for them. Bureaucracies and cultures take a long time to change. Additionally, there is no word on tax cuts or tax simplification, both of which are also key to encouraging more entrepreneurs.
The other key ingredient for entrepreneurial growth is education. While entrepreneurial education has increased across Europe, they are also leading efforts to create certification exams for entrepreneurs through governmental oversight.
Europe has a long history of making business start-up a difficult and even daunting process. While they are taking some small steps in the right direction, it is unlikely that they will lead to enough change to make a difference. Socialism has deep roots throughout Europe both culturally and institutionally. Most new EU policies and initiatives (remember the World Tax) are moving toward even more tax burden on wealth creation and more centralization of economic planning.