Quantum Information Processing and Communication (QIPC) has the potential to revolutionize many areas of science and technology. It exploits fundamentally new modes of computation and communication, because it is based on the physical laws of quantum mechanics instead of classical physics. It holds the promise of immense computing power beyond the capabilities of any classical computer, it guarantees absolutely secure communication, and it is directly linked to emerging quantum technologies, such as, for example, quantum based sensors. The worldwide interest in the subject may be gauged by the recent significant increase of funding in quantum information technology; in particular in the United States, Canada, Australia and in some countries in Asia (see section 2.2). Europe has played a leading role in the early development of QIPC, and, given appropriate research infrastructure and suitable funding, European researchers are well positioned to maintain Europe at the forefront of the field. However, this requires a significant effort at national level and a consolidation, coordination and unification of many national projects and initiatives under one common European umbrella with the lead of the research program of the European Commission. For Europe to remain competitive in this field in the future there is an urgent need for a substantial EU-programme in QIPC.