http://www.spiegel.de/international/...549401,00.html
the first satellite of the new system with a resolution of 4 m is to be launched this weekend. the complete satellite network is planned to go online in 2013.
the only major criticism is that 8 European major space and hightech corporations were unable to come to a deal on how to finance and build it themselves - the EU had to step in and give the needed money from unused funds. Now being trapped in the boat this way, the European taxpayer will need to come up with the unavoidable and to be expected rises in costs, too - projects like this never work with the projected costs and previous estimations, but almost always tend to blow the calculations, because these are done with overly optimistic variable settings. And reality only rarely plays nice with exaggerated optimism.
The system will be far more precise than the American GPS-1 and planned GPS-2 (2015) system and the Russian system, but not as precise as the later-planned GPS-3 (2021), which should have a resolution of 2m, says the little infographic in the article.