Green light for Galileo financing through EU budget. Reimer Böge MEP
Reimer Böge MEP, Chairman of the European Parliament's Committee on Budgets, has described the agreement reached between the Committee and the EU Council of Ministers on the financing of the Galileo satellite navigation system as "a sensible compromise". The agreement was reached after a 12-hour negotiating marathon and provides funding for the project through the EU budget.
Out of the cost, estimated at €3.4 billion until 2013, one billion was already foreseen in the financial perspective. The remaining €2.4 billion will be covered as follows:
- €1.6 billion through a revision of the financial perspective (reallocation of unused means in the agricultural budget for 2007);
- €400 million in research funds within the fields of transport and space research;
- €200 million through redeployment within budget heading 1A, growth and employment, without reducing such programmes as Lifelong Learning and Trans-European Networks;
- €200 million in additional funds through the use of the so-called flexibility instrument.
For further information:
Reimer Böge MEP, Tel: +32-2-2845326
Knut Goelz, EPP-ED Press Service, Tel: +32-479-972144
Notes to Editors:
The EPP-ED Group is the largest political group in the European Parliament with 278 Members from all 27 Member States.