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EU Presses Ahead With Galileo GPS System

Posted by timothy on from the directional-directive dept.

philkerr writes "The BBC is reporting that European transport ministers have agreed to the 2008 deployment of the European controlled GPS system. Costing 2.1 billion euros and creating 150,000 jobs. Is this just a pork-barrel project, or something Europe really needs to break the reliance on U.S. space technology? This was discussed on Slashdot in June when the U.S. and EU reached an agreement on its deployment."

1 of 520 comments (clear)

  1. Re:10 percent unemployment in the EU by sane? · · Score: 5, Informative
    Think you have that one the wrong way round. The US national debt is over $7 trillion, 70% of US GDP. Your economy is being supported by overseas investors, if they lose confidence and withdraw their money - its the US that goes broke.

    By comparison the UK debt is 33% of GDP and the euro countries had deficit targets they had to meet (but often fudged) to join the single currency in the first place.

    The next country to suffer reversal of fortunes and crippling problems is likely to be the US: no plans as to how to deal with your deficit, big costs coming up, and no good will around the world.