Britain will build own satellite system if no access to EU's, Hammond says
By REUTERS
Britain would develop its own separate satellite navigation system if it lost access to the Galileo project, the European Union's version of GPS, finance minister Philip Hammond said on Friday (May 25).Britain told the European Union on Thursday (May 24) it will demand the repayment of up to 1 billion pounds ($1.34 billion) if the bloc restricts its access to Galileo.Hammond added that Britain was aware of the 'ticking clock' with little time available for talks on its departure from the European Union but called ongoing talks with all the parties involved 'constructive'.
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