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Old 29-06-2010, 05:18 AM   #1
worlds beyond
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Default "US, EU seal 'anti-terror finance' deal"

been in pipeline a while, but is now signed and official....

"US, EU seal 'anti-terror finance' deal"

Tuesday, 29 June 2010 03:58 PressTV

"The new deal will allow the use of banking data of EU citizens by US authorities.

Europe and the US have signed a new anti-terror finance deal which allows Washington access to bank data in order to track suspected terrorist's finances.

The deal was sealed on Monday after easing European concerns about privacy rights, AFP reported. The European parliament had blocked an initial Terrorist Finance Tracking Program deal in February.

The program allowed the US access to information from SWIFT, an interbank money transfer system, to track suspected finances.

The agreement only needs the go-ahead from the European parliament and it could be implemented on August 1, the report added.

Michael Dodman, the charge d'affaires of the US mission to the EU, says he is "very proud" of the agreement, adding "it is very important to the security of the United States and Europe."

"It is the duty of the EU and the US to cooperate in protecting citizens from terrorism, but citizens have also the right to be protected against excessive state intrusion into their lives and potential mistakes," AFP quoted Martin Schulz, head of the Socialists and Democrats as saying in a statement.

"After intense confrontation, the EU Council has finally come to terms with our demands," he added.

Now, the conservative European People's Party says the agreement includes "high data protection standards."

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