While the participants engaged in much discussion there of Iraq, trade and other issues, the most significant result of the meeting may have been an agreement to ensure that Europes Galileo navigation system does not interfere with the frequencies used by Americas Global Positioning Satellite (GPS) system .

CENTERFORSECURITYPOLICY: Watch this space

We questioned the starry-eyed revenue and expense forecasts for Galileo, a European satellite navigation venture designed to compete with the U.S.' Global Positioning System.

FORBES