Up and running
by 2014? Try 2017 at the very earliest. Such is the bogus news coming out of the European Commission today, as reported by the German
Financial Times. Shockingly enough, the
ill-organized Galileo navigation network has suffered from yet more delays, which have pushed it back by a further three years and even deeper into the budgetary red. An additional €1.5b to €1.7b will be required to complete the grand project, while fiscal recalculations now indicate that it's unlikely to
ever turn a profit. Again, we are shocked. The total bill for European taxpayers is estimated to amount to somewhere in the region of €20 billion ($27.8b) when development, construction, and operation are all factored in. Ah well, it's a cash drain, but at least it'll divert funds from the EU's suicidal scheme of paying farmers to not farm. Every cloud has a silver lining, right?
EU's Galileo satnav system orbiting way past budget, delayed until 2017 originally appeared on Engadget on Thu, 07 Oct 2010 06:37:00 EDT. Please see our terms for use of feeds.
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