Re: Don't Panic
You're forgetting how the EU works.
This won't be funded by the Member States through ENLETS or through another EU institution. Instead the EU will issue a series of memorandums and guidelines on the harmonisation of technological measures for law enforcement and encourage reciprocity between member states on the sharing of technology and information, as well as encouraging cross-border cooperation on such matters. Member states will start implementing their own schemes to work toward a common operating procedure and common technological solutions to the problem outlined - without a single, EU-wide budget.
Eventually the EU will start to issue regulatory and technical directives (which are not debated or voted on in national legislatures, but implemented directly into law) on key areas of the scheme in order to further harmonise and standardise the technology and procedures involved. Then it will issue a final set of directives on the broad scope of the scheme, at which point there will be a de-facto EU-wide traffic law enforcement system that is nominally run by local police forces, but is in fact almost entirely divorced from them.
And so it goes.
Meanwhile, ENLETS will get a small budget increase and continue to write memos.