Galileo project clears funding hurdle

A long-delayed European Union rival to the US Global Positioning System cleared a vital hurdle on the 23 November 2007 after EU Member States agreed on how to finance the troubled satellite project. Galileo came closer to reality after EU states backed a €2.4bn funding deal, reached by diverting unused farm subsidies from the 2007 budget and rejigging research and industrial spending.

Council of the European Union: Press Release: PRES/07/260 http://www.consilium.europa.eu/ueDocs/cms_Data/docs/pressData/en/ecofin/97260.pdf

Deutsche Welle, 26.11.07: EU Secures Galileo Satellite Navigation System's Future http://www.dw-world.de/dw/article/0,2144,2972337,00.html

European Commission: DG Energy and Transport: Galileo http://ec.europa.eu/dgs/energy_transport/galileo/index_en.htm

Wikipedia: Galileo positioning system http://en.wikipedia.org/wiki/Galileo_positioning_system

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