U.S. Granted Access to European Bank Info
Posted on Jul 8, 2010
Here’s another bit of news guaranteed to win us friends around the world: On Thursday, EU officials voted in favor of granting U.S. anti-terror investigators access to Europeans’ bank information. —KA
The vote followed tough negotiations with US authorities after a previous agreement was blocked by the European Parliament in February.
EU negotiators say the new deal gives EU officials authority to monitor the US investigators’ actions.
The deal gives the US access to bulk data from Swift, a firm that handles millions of bank transactions daily.
Washington says the Swift deal is crucial to fighting terrorism, as part of the US Terrorist Financing Tracking Programme (TFTP) set up after the September 2001 attacks on the US.
AP / Daniel Roland
The euro symbol looms large outside the European Central Bank tower in Frankfurt, Germany.