Wikepedia suggests that the OWL is on hold for the moment because of cost-in favour of the ELT
http://en.wikipedia.org/wiki/Europea...arge_Telescope
but there are other competing proposals around
Geoff Anderson-who was here a few months ago promoting his book "Eye on the Sky" talked about a number of these (competing ) super telescope proposals of the future. he addresssed a number of astronomy clubs around Australia