See related story: Galileo: Challenge to U.S. Might?

Developed by the European Space Agency in collaboration with the European Union and co-funded by the two organizations on a 50-50 basis, Galileo is a complete civil system, designed to be operational from 2008 and to provide the world in general and Europeans in particular with an accurate, secure and certified satellite-positioning system.
Courtesy of ESA/J.Huart