EU's Galileo satnav system orbiting way past budget, delayed until 2017
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?
