EU Committee Says No To Bank Data Sharing 160
krupert writes to let us know that the civil liberties committee of the European Parliament has voted to revoke the data-sharing arrangement by which US intelligence agencies have access to EU banking data via the SWIFT system. The US has threatened to withhold cooperation on terrorist intelligence if the bank data deal now in place is canceled, which it will be next week if the full European Parliament votes in line with the committee's recommendation. US intelligence agencies clandestinely tapped the SWIFT interbank clearing data from just after 9/11 until 2006, when the secret arrangement was made public. After that, Belgium-based SWIFT pulled their servers from the US and set up shop in Brussels, and the US had to negotiate with the EU to keep tapping the data.
Re:Much better that this data... (Score:5, Informative)
Well... Yes, frankly.
We have stronger data protection and personal privacy laws in the EU than those in the US seem to have, and just as important, people here seem to be generally more aware of the need for data protection and privacy after a string of high profile screw-ups. Both governments and businesses do get slapped down from time to time for trying to go too far.
The balance is still too far in favour of the data miners, and I think as time passes and the consequences become more apparent we will see popular opinion sway further toward protecting privacy. But even today, it's paradise here compared to the US, where even if there are legal safeguards, the executive and intelligence agencies are demonstrably willing to ignore them and then invoke special privilege crap to cover themselves after the fact.
Bottom line: Why the hell should EU-level bureaucrats kissing US ass give away sensitive data to the US when our laws would normally prohibit such action? Answer: because the unelected guys pushed it through literally within their final hours with that authority, knowing that as soon as the Lisbon Treaty took effect and elected MEPs started to get more power they wouldn't get away with it. The MEPs are now doing their job and fixing this problem.
Sorry, that is completely wrong (Score:4, Informative)
At the moment, only a committee of the European Parliament voted against it in a test ballot. The real ballot is on Thursday next week. Up to then, the US American administration (including the US ambassador to the EU and Hillary Clinton) put pressure (including various legal and illegal threats) on the Members of the European Parliament to change their mind. They were already successful insofar that the ballot was moved from Wednesday to Thursday. And as I consider the European politicians as corrupt and ready to betray the basic rights of the European people in order to gain more control over them, I guess the Americans will be successful in getting their SWIFT treaty exactly as they want it.
Not quite (Score:5, Informative)
--- Problem ---
--- Process ---
---- Scenarios and options ----
A rejection is currently likely. See the debate and voting timetable at Seance en direct [europa.eu].
---- Documents ----
Council Decision 2010/16/CFSP/JHA of 30 November 2009 on the signing, on behalf of the European Union, of the Agreement between the European Union and the United States of America on the processing and transfer of Financial Messaging Data from the European Union to the United States for purposes of the Terrorist Finance Tracking Program - Agreement between the European Union and the United States of America on the processing and transfer of Financial Messaging Data from the European Union to the United States for purposes of the Terrorist Finance Tracking Program [europa.eu]
Re:Who let US out of the playground again? (Score:4, Informative)
I have a funny conspiracy theory for you: :)
You may know that in Islamic countries, banks have to follow special rules of morale. The stuff that did happen in the US, is highly illegal in e.g. UAE.
So the theories goes like this:
The banking crisis did not really affect Islamic banks.
Which means that the whole banking crisis was the biggest and most successful terrorist attack by Islamic “leaders” yet.
And it was teamwork with China, who sold you crap that you don’t need, so you buy it with lend money that you don’t have... and is also coming from China.
Now all we have to find out, is how Islamic banks control China. ;))
P.S.: Protip: If you took this seriously: *whoooosh* ;)
Re:Sorry, that is completely wrong (Score:2, Informative)
Re:I miss two or three things: (Score:3, Informative)
I miss the apologies of the US for stealing data from a foreign, but friendly country!
I miss the clear statement that such data sharing is mandatory bidirectional!1
And I would like to have the same transparency about US state Delaware's mailbox-companies financial transactions!
I forgot who said it, but a politician once said "there are no friendly countries. Only countries whose interests are currently aligned."