(Presentation slides only) The Galileo system is a constellation of 30 satellites with a global ground infrastructure. Already 26 satellites have been launched with an additional 12 on order. Initial services started on 15 Dec 2016. This presentation will provide an update on the current status of the Galileo System, the achieved performances to date and touch on the new developments which could be of interest for the timing community, such as I/NAV message improvements for faster signal acquisition, Open Service Navigation Message Authentication (OS-NMA) for authenticating the navigation message, Commercial Access Service (CAS) capabilities to encrypt the E6c signal and High Accuracy Service (HAS) to offer 20 cm position accuracy. The presentation will zoom into the achieved UTC and GPS-to-Galileo Time Offset dissemination performance. Additional, the presentation will provide some expected benefits for timing users of the Galileo HAS, such as synchronisation of user equipment. An outlook will be given to some future studied improvements to increase the robustness of the Galileo timekeeping system.