The European Union decided to rescue it's dramatically over budget and behind schedule 'Galileo' project. Galileo is a Global Positioning System similar to that used and controlled the United States. The project would comprise a network of 30 satellites that would enable a person on the ground to pinpoint their location within a few meters; providing a higher accuracy of position that the US based system.

The rising costs of the project meant that it was nearly abandoned this week. However, the governments of the European Union stepped in and decided to fund the project themselves in order to guarantee that the project is completed.

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