What visionary project would you fund?

I have just received a survey questionnaire regarding future directions in EU (European Union) research funding, and thought it would be interesting to see how LessWrong would answer the main question:

Imagine that EU funding is available for one ambitious, visionary project extending beyond 2020.

  • What kind of research challenges should such a project address in your area?

  • What would be the most urgent research tasks?