Latest in 2017

Image credit:

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

Vlad Savov
October 7, 2010
Share
Tweet
Share

Sponsored Links

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?

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share

Popular on Engadget

Engadget's 2020 Back-to-School Guide

Engadget's 2020 Back-to-School Guide

View
Space Force official logo and motto unveiled

Space Force official logo and motto unveiled

View
Fossil's Gen 5 Wear OS smartwatches are about to get a major update

Fossil's Gen 5 Wear OS smartwatches are about to get a major update

View
Our readers get real about their issues with the AirPods Pro

Our readers get real about their issues with the AirPods Pro

View
Nintendo 'gigaleak' reveals the classic games that never were

Nintendo 'gigaleak' reveals the classic games that never were

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr