Well, "Blue Card" in this case. According to Auntie, the EU has realised it needs 20m skilled immigrants in the next 2 decades, and this is its way of ensuring that happens.
The biggest shortfall in skilled workers? Engineering and IT, of course. Whether you see the scheme as a good thing or a bad thing, expect to see a lot of ruckus surrounding it. The UK may yet opt out (few other European countries can), several governments are hostile and, of course, it will lead to accusations of brain drains and the like.
But since engineering and IT are the alleged focus for this scheme, what do you think of the idea? Will it be a help or - as Google has complained in the US context - a hindrance?
PS - While we're on the subject of the BBC, check out what are possibly the most hilarious illustrative images they've used to date here...