Hey Eurocrats, what's the matter? Don't your guys trust the U.S. to continue supplying Global Positioning Satellite (GPS) data for your military and civilian sat nav systems? Or is it simply a question of doling-out billions of Eurozone tax dollars to aerospace contractors for your very own GPS system that you want, but don't really need? And the answer is… yes. Anyway, WardsAuto reports that Europe's Galileo GPS project has floundered on the rocks of the usual government mismanagement and waste, blowing-out its budget by billions and missing its launch date by five years… and counting. So the European Union has shut down the project, declared it an enormous waste of time and money, and apologized to tax payers. Just kidding. The EU Council of Ministers has decided to shovel another €2.4 billion ($3.6 billion) into the project. But hey, the "lion's share" of the money's coming from unspent agricultural subsidies. In their defense, "Galileo’s supporters say the network will provide navigational services that are more accurate than those available through the U.S. Global Positioning System." Oh, that's OK then.
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