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

Microsoft Edge becomes the second most popular desktop web browser

Microsoft Edge becomes the second most popular desktop web browser

View
Quit trying to make Quibi happen

Quit trying to make Quibi happen

View
The best games for PS4

The best games for PS4

View
Tesla shows how it builds ventilators using Model 3 parts

Tesla shows how it builds ventilators using Model 3 parts

View
Best Buy is selling the NVIDIA Shield TV for $20 off

Best Buy is selling the NVIDIA Shield TV for $20 off

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr