Saturday, January 23, 2010
SWIFT - EU to grant USA nearly unlimited access to all EU banking data
The EU justice and home affairs minister are about to agree on a large-scale banking data sharing plan with the United States. The agreement will have a massive impact on the privacy of banking data of European businesses and citizens.
...
No reciprocity
The most suprising fact related to the EU negotiations with the US is the missing demand of reciprocity. In other words: while the US will be able to access EU banking data no access to US banking data by EU authorities is being foreseen.
Open questions
It is unclear to me what exact legal form the agreement with the United States will have. To my knowledge it will probably not require any ratification by national parliaments. It needs to be seen whether procedures against the deal will be able to be launched at the European Court of Justice. They could potentially be based on the EU’s current, rather strict data protection legislation.
... this is "the end" of the European community ...
... I doubt reciprocity exists ...
... the US is an "occupying power" in Europe ...
Subscribe to Posts [Atom]
