Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-12-12-Speech-3-211"
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"en.20071212.23.3-211"2
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".
Since it was impossible to secure private funding, as originally planned, to supplement the financing of the ‘Galileo’ project, the European Union ‘decided’ that it should be financed entirely with public capital, notably from the Community budget.
This is the reason for the amendment to the Interinstitutional Agreement (IIA) – which established the Financial Framework for 2007-2013 – increasing the ceiling for authorisations granted under subheading 1a (competitiveness for growth) for the years 2008 to 2013 to a total of EUR 1 600 million at current prices, at the cost of under-budgeting and under-implementing the items under heading 2 (‘preservation and management of natural resources’, namely agriculture, fisheries and the environment) in 2007.
With this revision of the IIA and the mobilisation of the Flexibility Instrument, the EU is securing the future of its great ‘priority’ by guaranteeing its funding. It still remains to be seen whether, once the ‘Galileo’ project is completed – completed, it should be noted, with public funding – it will not be ‘offered’ at some later date to private capital, on the basis of some public-private partnership for example, with the public party bearing the costs and private capital making the profits."@en1
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