E.U. rejects deal to allow U.S. access to bank transfer data

[Joanne98]

The European Parliament on Thursday strongly rejected a deal that would have allowed U.S. authorities continued access to data on European bank transfers, striking a blow to the Obama administration's effort to continue a controversial global terrorist finance tracking program begun under the George W. Bush administration.

The lawmakers' 378 to 196 vote is sure to spark a transatlantic tussle over what the United States has said is a significant tool in tracking and disrupting terrorist plots aimed at the U.S. and Europe.

The vote came despite intense lobbying in recent days by top U.S. officials including Vice President Biden, Secretary of State Hillary Rodham Clinton and Treasury Secretary Timothy F. Geithner. The parliament's president, Jerzy Buzek, said the assembly wants more safeguards for civil liberties and believes human rights have been compromised in the name of security.

"This is a remarkably irresponsible act by the European parliament," said Stewart A. Baker, former Department of Homeland Security assistant secretary for policy. "They're creating a safe haven for terrorist finance."

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http://www.washingtonpost.com/wp-dyn/content/article/2010/02/11/AR2010021102139.html

The EU is going to stick up for human rights? Who knew?

[FarCenter]

1. You don't imagine that CIA used to just paw through the SWIFT transactions looking for terrorists?

Industrial and financial espionage is ever so much more profitable.