Monaco,May 05: FIA President Max Mosley hails Monaco meeting. Formula One can expect to see major changes from 2006 after teams agreed on Tuesday (May 4) to speed up the introduction of measures to save money and improve racing. "I couldn't have asked for more from the meeting," International Automobile Federation (FIA) President Max Mosley said after a gathering of team bosses to discuss proposals put forward by the FIA. Mosley said there had been agreement on most of the issues put forward, with all teams agreed on the need to cut costs sooner rather than later.
"What I think it all comes down to is there's - except for minor details -- virtually complete acceptance of these very revolutionary proposals; agreement on the objectives; and agreement that the engine manufacturers, the seven companies that are concerned with engines, are going to sit down together to reduce the costs of the engines by 50 per cent; and I think really I couldn't have asked for more from the meeting," he told a news conference.

Bureau Report