EU reaches agreement on Galileo funding
Posted: Sat, Nov 24, 2007, 9:06 AM ET (1406 GMT)
European Union member nations reached an agreement late Friday to fund the Galileo satellite navigation system after resolving concerns by one major nation about the distribution of contracts. EU finance ministers agreed to a proposal first announced this fall to use €2.4 billion (US$3.5 billion) in unspent agricultural subsidies on Galileo, filling a shortfall created when previous efforts to create a public-private partnership that would have paid for most of Galileo fell through. Germany had raised objections to the proposal both because of the precedent created by transferring unspent funds from one program to another as well as concerns that a single company could dominate the contracts that will be awarded for the system. EU officials did agree to divide the development of Galileo into six contracts and prohibit any one company from winning more than two of them. Germany still voted against the proposal, according to reports, but welcomed the revised bidding plan.
European Union member nations reached an agreement late Friday to fund the Galileo satellite navigation system after resolving concerns by one major nation about the distribution of contracts. EU finance ministers agreed to a proposal first announced this fall to use €2.4 billion (US$3.5 billion) in unspent agricultural subsidies on Galileo, filling a shortfall created when previous efforts to create a public-private partnership that would have paid for most of Galileo fell through. Germany had raised objections to the proposal both because of the precedent created by transferring unspent funds from one program to another as well as concerns that a single company could dominate the contracts that will be awarded for the system. EU officials did agree to divide the development of Galileo into six contracts and prohibit any one company from winning more than two of them. Germany still voted against the proposal, according to reports, but welcomed the revised bidding plan.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Friday, April 10
Amazon Leo to Launch 'Mid-2026,' CEO Hints at Lower Price Than Starlink
PC Magazine — 6:24 am ET (1024 GMT) Amazon’s Starlink competitor Leo gets a new date
The Verge — 6:23 am ET (1023 GMT) Space Force Picks 14 Firms to Compete to Build Reconnaissance Satellites
Air and Space Forces Magazine — 6:22 am ET (1022 GMT) Oxygen made from Moon dust for first time
The Daily Telegraph — 6:19 am ET (1019 GMT) This founder helped build SpaceX’s most powerful rocket engine. Now he’s building a ‘fighter jet for orbit.’
TechCrunch — 6:19 am ET (1019 GMT) |
