The EU’s proposed alternative to the U.S.-run GPS system, the Galileo satellite project, is now nearing the final stages of approval and could be in production within the year. The troubled project has experienced a number of setbacks over the past year, including a budget blowout that has pushed cost estimates to about €4.5 billion ($7 billion), but despite this the German government has confirmed that an accord has been made.
The new project represents a huge chance for Europe’s aerospace and technology industries, especially for German companies, which are currently the most heavily involved. However, the final details won’t be penciled in until the project is passed by the European Parliament, which German transport minister Wolfgang Tiefensee told
Bloomberg will be in the “next few weeks.”
So far only one of the proposed network of 24 satellites has been put into orbit and there were fears the entire project would be canned until last year when the EU took control after a private-sector group abandoned it.
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By James Posted: 4/7/2008 1:38pm PDT
By Raptor Posted: 4/7/2008 1:53pm PDT
By Paul Posted: 4/7/2008 5:37pm PDT
By Anataxis Posted: 4/7/2008 5:45pm PDT
By HECTOR Posted: 4/7/2008 6:31pm PDT
one (confirmed by James) is that some people hate things American, even if they're good and cheap, and want to do a counter to it even if it's not as god and more expensive.
two - the EU wants to throw some very expensive bones to European aerospace companies by building something that is not really needed.
I hope they succeed.
By chris Posted: 4/8/2008 8:32am PDT
if the american economy can strengthen after this whole economic crisis, then this wont actually happen, but: if and when the dollar deflates completely, and everyone realizes that chinas got their hand so far up the USA's arse they can use the white house and their own little commie hand-puppet, and that the majority of americans dont actually own their house, their cars, or anything else of significant value, then the financial hub of the world will move from new york to some where else. The EU (and probably the rest of the free world) would like to see that be London instead of Abu Dhabi or Shanghai or something like that. Annnnnnnnd then the USA will find out that they are not actually the chosen one's, and that the world actually does turn without them at the controls.
sorry, i love america, love to spend time there, great people, etc etc.. but there is a small arrogance (which i personally believe is spawned from ignorance) that the USA commands the world, and that the whole thing would just fall apart without them. Things would be different, thats for sure, but in time we will see.
The USA very soon will not be the consumer super power (china), won't be the financial center (again, london, i'm praying), and won't be the blue collar manufacturing center (all those jobs went to asia and east europe) nor will they be the raw resource center (canada, brazil, australia, russia, etc).
I'm paying close attention to the decisions that the treasury and wall street make in the next couple months because the future of my city is strongly tied to american fortune, but even more importantly, if they cannot solve this problem of most of america being owned by a few banking institutions, then the future that i've just described will come true.
what the HELL does this have to do with galileo? easy: the EU has to prove that they are at least equivalent to the USA in some areas, and better in others. It's a gigantic power struggle, and in this capitalistic world, militaries mean nothing. that's very obvious from the way that the USA is handling this issue with China and the olympics and yadda yadda. They can't say anything bad about china or else china's just going to sell the $500 Billion in US Treasury bonds they own to Al-Qaida. Or just burn them.
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