14 February 2010

European Swift bank data ban angers US

The European Parliament has blocked a key agreement that allows the United States to monitor Europeans' bank transactions - angering Washington. The US called the decision a "setback for EU-US counter-terror co-operation". The vote was a rebuff to intensive US lobbying for EU help in counter-terrorism investigations. EU governments had negotiated a nine-month deal which would have allowed the US to continue accessing the Swift money transfer system.