US to monitor Europeans’ bank accounts

Great Debates
1

Published 09 July, 2010, 14:09

Edited 10 July, 2010, 03:06

The European Parliament has approved a new EU-US bank data-sharing agreement under which US investigators will be able to monitor millions of European bank transactions daily, reports the BBC.

http://rt.com/Top_News/2010-07-09/us-monitor-european-banks.html

excerpt from article.
The deal grants access to the SWIFT network, the system that unites the data from 8,000 European banks operating in 200 countries
snip.
The US says they need access to the system for their counter-terrorist activities. The country had been secretly accessing SWIFT since September 11;
article continues…

Note how the US has been monitoring bank account transactions for quite some time anyways?

So so much for freedom, privacy?
all gone now…
( 9/11, the reason,… or the ‘Excuse’? )

Note also, Extradition ‘Treaties’ ( sic ) with the world are only one way…
The US can demand extradition of anyone they choose to, from anywhere they want to in the world, BUT, no other country has this right…
to ask for likewise from the USA.

Zanthor

2

Never hear of “RT”, and that article is very short on details. Color my unconvinced that the analysis is right. Got a better source?

I’m certain this is not true. Got a cite for it?

3

This is simply not true. The US will generally only extradite pursuant to a treaty (but so do most countries). There are a few countries that will extradite without a formal treaty, but they are the exception, not the rule. Also, there are several countries that will not extradite to the US if the charges may result in the death penalty.

Cites:

4

This is hardly news. The US has had access to European banking info for ages. It’s just that the deals have been made a little more official.

As you note, this is a one-way deal, at least as far as information is concerned. I can’t believe we Europeans are so naive as to think the US won’t use this to screw our citizens and companies over (it’s not exactly a secret that US intelligence agencies unofficially give sensitive information to American companies).

5

Um, one of the basic features of an extradition treaty is that it works both ways. The other is that the offence must be a crime (of comparable severity & punishment) in both countries. This is why say Canada can refuse to extradite anyone facing the death penalty (since there isn’t one in Canada) and why Canada didn’t extradite draft dodgers (since Canada didn’t have a draft there was no law against dodging it).

6

RT is Russian Television. http://rt.com/

We have it on local TV twice a day, one in the morning ( in Russian, ) and again in the afternoon ( same edition ) in English

found this.
http://rt.com/Top_News/2010-02-11/bank-data-sharing-agreement.html

Bank data-sharing agreement with US sunk by EU parliament

Published 11 February, 2010, 16:00

Edited 12 February, 2010, 23:22

The European Parliament has overturned Washington’s call for sharing transactions’ details to track down sponsors of terror.
continues.

Note. article is dated 11 February, 2010,
so unsure of current state of agreement.

Have no time to research Extradition treaties, will do so later

7

The new agreement was approved by the European Parliament on 8 July FAQ by BBC - it was renegotiated after the EP rejected an earlier one in February and now has some more privacy safeguards.