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The EU has agreed to pay extra cash for the two big projects, which failed to attract private investors (Photo: European Commission)

EU approves extra funds for Galileo and technology institute

EU ministers have agreed to full public financing of the Galileo satellite system and a brand new technology institute, as part of a deal on the bloc's 2008 budget - the first ever to earmark more cash for growth and jobs than for farm aid.

After months of disagreement over who should foot the bill for the two big projects – private sector co-financing was originally the plan - member states agreed late Friday (23 November) to push forward with them using funds solely from EU coffers. <...

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The EU has agreed to pay extra cash for the two big projects, which failed to attract private investors (Photo: European Commission)

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