Although howls of protests have been raised, European Union foreign ministers meeting in Brussels on Monday were expected to give the green light for further negotiations between the EU and the US on providing bank details to American authorities in terrorism investigations.
In fact, the US has already had access to European banking information for years, since the terrorist attacks of Sept. 11, 2001. Financial services provider SWIFT, the Society of Worldwide Interbank Financial Telecommunications,” is moving its primary server from the United States to Europe in order to make access to its huge database of banking transactions more difficult for US authorities to access. But a new EU-US agreement could mean that this move is in vain.
German and European politicians from across the political spectrum have been vociferous in their condemnation of the proposed bank data transfer agreement.
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