GENERAL NEWS / (eu) eu/transport council

Galileo agreement, release of EUR 450 million funding package - Creation of common venture - Private sector cannot be part of common venture until end of 2003

Brussels, 26/03/2002 (Agence Europe) - The EU reached full agreement on Tuesday over the Galileo project that aims to provide the European Union with a global satellite navigation system by 2008. Fifteen minutes of discussion were enough to reveal that all the Member States had finally agreed on a compromise after more than a year of deadlock (which had led to speculation that the project might be dropped). The Member States agreed to release the EUR 450 million needed for the Galileo...