0827_SPN_DOM_00_019_00 (READ ONLY) 8/24/2012 11:39 AM Page 19 www.spacenews.com SPACENEWS 19 August27, 2012 TheSpaceImpact of the Euro Crisis < ROBBIN LAIRD and HARALD MALMGREN > he European sovereign debt crisis Europe will now be challenged in the ing to hide the reality of European bank of the savings of millions of European is not simply abump in historical form of rollbacks of the many inter- weaknesses. The main reason is that eu- citizens. Tprogress; it is the end of aperiod twined strands of integration, fraying rozone economies are far more bank- European leaders are also attempt- of historyand acritical point in Euro- what has been an intricate but incom- dependent than economies like those in ing to initiate amore comprehensive fis- pean and global transition in the 21st plete tapestry. It is questionable whether the United States or United Kingdom, cal union, with new decision-making century. Europe will be able to prevent stalling of where substantial nonbank financing al- mechanisms that transfer sovereignty in The confluence of several trend lines the integration process in the face of ternatives exist for the corporate sector. parallel with the new banking union. We — the unification of Germany,the end widening gaps among the interests of In the eurozone, banks are the fi- do not believe that any of the eurozone of the Soviet Union, the collapse of the each nation and even within each nation. nancial markets; in the U.S., banks are governments are ready for such apoliti- Berlin Wall, the expansion of NATO, Since the birth of the euro, the but one segment of amultifaceted fi- cal transition in which citizens in each the expansion of the European Union French and Germans were in the lead in nancial market. Eurozone govern- nation must agree to be under leader- (EU) and the creation of the single cur- ship of people appointed or elected in rency — constitutes aunique period in some other nation among the European modern European history. Theweight of Germanyinshaping European spacepolicy Union members. The trend line was also defined by The way ahead in dealing with the moving the borders of Europe eastward and business approacheswill clearly go up.And the role crisis will have asignificant impact on with the expectationthat an expanded the space business in Europe and be- Europe wouldmanage its own internal yond. Akey element will be reshaping dynamics well and provide stability in a of Germanyalready in the launch side of the business the euro around the German policy historically unstable region of the agenda. The Germans will be key players world. within Europe wasonthe ascendencyprior to the in reshaping the euro and downsizing However, the European crisis is also the eurozone to what might be called gradually revealing serious flaws in the highly visible eurocrisis. the Ger-Euro. The economic and politi- functionality of both the European cal weight of Germany will go up as the Union and NATO. The two decades of euro crisis goes on, and the weight of European consolidation and expansion resisting transfer of national regulatory ments and their politicians simply do German influence will be to reshape the are now confronted with new centrifugal power to the European Central Bank or not want to risk collapse of their na- eurozone into amore cohesive, “re- forces that are again widening political, some other eurozone-wide entity.Other tional economies through full revela- sponsible” and integrated “core.” social, economic and security differ- euro governments have also insisted on tion of the weaknesses of their banks. But this is aunited Germany,which is ences within the EU and among its keeping local supervision of banks. Thus, this is not solely an issue of shaping aEuropean-cohesive process, not neighbors. Deepening recession and the What really lies behind this continuing whether or not to yield national sover- adivided Germany,which had to accept severity of its impact on employment resistance is that national governments eignty.Atrue banking union based on thedictatesofsmaller European powers and the well-being of citizens are in- and their banks do not wish to reveal the transparency would necessitate aredef- to gain an end of national division. creasing these differences and encour- true leverage and the weakness of capi- inition of all European banking against The weight of Germany in shaping aging re-energized nationalism and re- tal among European banks. abackdrop of hundreds, even thou- newed political localization. Eurozone governments are still try- sands of bank failures and decimation SEE LAIRD PAGE 21 50 Yearsafter Mariner 2: Exploration at aCrossroads < ROGER D. LAUNIUS > olar system exploration is charged particle environment Earth’sturn, this pop culture the same steamy atmosphere spacecraft on Jan. 2, 1963, and it approaching amajor turn- and looked for amagnetic field belief suggested that Mars had could be apossibility.” is now in orbit around the sun. Sing point just as it is sur- similar to Earth’smagnetos- once been habitable and that Mariner 2helped to deter- This important milestone in passing amajor milestone. Fifty phere (but found none). Most life on Venus was now just be- mine that none of these specu- planetaryexploration signaled years ago, on Aug. 27, 1962, important, it found that the ginning to evolve. Beneath the lations was true.The second in a by Mariner 2’smission to Venus NASA launched the first suc- planet’ssurface was afairly uni- clouds of the planet, the con- series of planetaryexploration is an appropriate cause for cele- cessful planetaryprobe, form 460 degrees Celsius, cept offered, was awarm, wa- spacecraft, this was the world’s bration. It is also an ideal time to Mariner 2, which visited Venus thereby making unlikely the teryworld and the possibility of first fly-by of aplanet. Part of a reflect and take stock of U.S. ef- later in that same year.Regard- theorythat life existed on aquatic and amphibious life. 1961 NASA planetaryexplo- forts to understand our solar sys- ed as both the evening and the Venus. “Mariner: Mission to Venus,” a ration initiative that took some tem because the planetaryex- morning star,Venus had long There had been longstand- 1963 NASA publication about of its design from the Ranger ploration program is stalling enchanted humans, and all the through alack of resources and more so since astronomers had technology necessarytoad- realized that it was shrouded in This important milestone in planetary exploration signaled by Mariner 2’s vance it. Unfortunately,after amysterious cloak of clouds years of success in planetaryex- permanently hiding the surface mission to Venus is an appropriatecausefor celebration. It is alsoan ploration, NASA’s efforts are be- from view.Mariner 2was atri- ginning to wane. Since the umph in helping to reveal the 1990s NASA has sent an armada closest planet to ours, and a ideal time to reflect and take stock of U.S. effortstounderstand our of spacecraft to the red planet, near twin in terms of size, mass of which the Curiosity rover is and gravitation, to the billions solar system becausethe planetary exploration program is stalling the most recent, and two outer on Earth. planetarymissions — Galileo Although Mariner 1was lost through alack of resourcesand technology necessarytoadvanceit. and Cassini-Huygens — have during alaunch failure, its opened the jovian planetsto twin, Mariner 2, flew by Venus study.The New Horizons space on Dec. 14, 1962, at adistance ing speculation that life might the Mariner 2mission, noted, program, Mariner 2bore astrik- probe to Pluto and the Kuiper of 34,800 kilometers.A204- be present on Venus. In the “It was reasoned that if the ing resemblance to the basic Belt at the outer reaches of this kilogram spacecraft, it carried first half of the 20th century, a oceans of Venus still exist, then framework, solar panels and an- system promises to do the same six scientific instruments, atwo- popular conception held that the Venusian clouds may be tennas of its Ranger predeces- in the coming years. Not to be way radio, asolar-power system the sun had gradually been composed of water droplets; if sor.Its controllers, numbering outdone, Messenger has ex- and assorted electronic and cooling for millennia and that Venus were covered by water,it roughly 75, worked from panded knowledge of Venus mechanical devices. Mariner 2 as it did so, the terrestrial plan- was suggested that it might be NASA’s Jet Propulsion Labora- and the inner solar system. A probed the clouds, estimated ets of the solar system had a inhabited by Venusian equiva- toryinPasadena, Calif. Al- range of smaller and less-com- planetarytemperatures and turn as ahaven for life of vari- lents of Earth’sCambrian peri- though Mariner 2did its job pressures, measured the ous types. Although it was now od of 500 million years ago, and well, NASA lost contact with the SEE LAUNIUS PAGE 21 0827_SPN_DOM_00_021_00 (READ ONLY) 8/24/2012 11:43 AM Page 21 www.spacenews.com SPACENEWS 21 On The August27, 2012 www.spacenews.com Fax: 01-703-750-8913 LAIRD FROM PAGE 19 ened to ensure that core Euro- pean space capabilities are VICE PRESIDENT/GENERAL MANAGER Horizon European space policy and maintained and sustained. Paul F. McPherson, Jr. ADVERTISEMENTS business approaches will clear- In other words, one out- 01-703-750-8651 ly go up. And the role of Ger- come to the euro crisis could Email: many already in the launch be to propel Europe into a [email protected] AUGUST OCTOBER side of the business within Eu- leading position in reshaping rope was on the ascendency the global space business and REPRESENTATIVES August 25 -September 1, 2012 October 15 -18, 2012 prior to the highly visible euro strategic partnering.