The Galileo project is a global navigation satellite system currently being built by the EU. Its main aim is to provide a European satellite navigation system upon which European States can rely (free of charge) and independently of other global satellite systems. It is envisaged that the Galileo system will be fully operational by 2020. The Irish Presidency held successful and productive engagements with both the European Parliament and the European Council on the proposal for a Regulation of the European Parliament and of the Council on the implementation and exploitation of European satellite navigation systems (Galileo and EGNOS). A number of largely procedural steps still remain to be finalised, principally concerned with the formal adoption of the Multi-annual Financial Framework. I understand that the completion of these steps is imminent and that the Regulation governing this important project will likely be formally adopted before the end of this month.