Galileo gets private finance boost
The European Commission has signed a 'Memorandum of Understanding' with several industry figures, which will see a contribution of around 200 million euro from the private sector to the beginning of the development phase of GALILEO, Europe's satellite navigation system. The agreement, presented on 21 March by the EU's Commissioner for Research Philippe Busquin and Loyola de Palacio, Commissioner for Energy and Transport, was signed by representatives from major industrial actors from service suppliers to manufacturers. 'GALILEO is a European project with huge calibre, which offers a potential market of nine million euro annually and should generate 140,000 jobs [...]. In signing this memorandum [industry] has shown its willingness to see this project finalised swiftly,' said Commissioner de Palacio. Swedish Prime minister (and President in Office of the European Council) Goran Persson, welcomed the news at a press conference in Stockholm, but recognised that problems persist. He said that the issue would be raised at the Stockholm summit, but that 'with regard to financing, there are still differences between the Member States.' He added that whether the 200 million euro would be enough was too early to judge before the issue was raised in detail by the responsible ministers, but that it was certainly 'a good contribution'. Some 1.1 million euro has already been allocated to the development phase, which is expected to last from 2001 until 2005, by the European Commission and the European Space Agency (ESA). In 2006 and 2007 when the satellites are deployed, the private sector will provide much of the required 2.1 million euro. GALILEO will allow individuals to pinpoint their position to the nearest metre. Similar technology already exists in the United States and in Russia, but GALILEO will be more reliable, guaranteeing a continuous signal. The programme will also be managed and controlled by civilians, which is not the case in the USA and Russia. The memorandum's signatories have agreed to meet in June of this year to finalise financial arrangements The European Commission recently announced its intention to involve the EU's Mediterranean partners in the development of Galileo following a five year review of the euro-Mediterranean partnership. The review also prompted the Commission to pledge to promote the use of renewable energy in the 12 Mediterranean partner countries.