As the European Parliament prepares to flex its muscles in the vote on the SWIFT data deal, the US is trying to convince the Europeans of the importance of sharing bank transfer information. US officials say the EU and Germany have already benefited from the SWIFT reports in fighting terrorism. The United States is upping the pressure ahead of a vote in the European Parliament later this week on an agreement that would continue to allow US terror investigators access to bank transfer data. Washington is warning the European Union and Germany that there could be serious diplomatic consequences, as well as security gaps, if the so-called SWIFT agreement gets overturned on Thursday. The Society for Worldwide Interbank Financial Transactions, the company that conducts the majority of the world's banking transfers, recently moved its servers from the US to Europe, raising concern among Washington's terrorism investigators that they may lose access to data on cross border financial transactions.
The United States is upping the pressure ahead of a vote in the European Parliament later this week on an agreement that would continue to allow US terror investigators access to bank transfer data. Washington is warning the European Union and Germany that there could be serious diplomatic consequences, as well as security gaps, if the so-called SWIFT agreement gets overturned on Thursday.
The Society for Worldwide Interbank Financial Transactions, the company that conducts the majority of the world's banking transfers, recently moved its servers from the US to Europe, raising concern among Washington's terrorism investigators that they may lose access to data on cross border financial transactions.
EUOBSERVER / BRUSSELS - US national security advisor James Jones on Saturday (6 February) reassured Europe that the transatlantic partnership continues to be strong, but underlined the need for the European Parliament to allow American investigators to access EU banking data to track terrorism funding. US national security advisor James Jones (l) and Russian foreign minister Sergei Lavrov (m) "It has become fashionable in some quarters to suggest that the United States has somehow neglected the trans-Atlantic partnership. But ...Europe today is our indispensable partner," Mr Jones said at the Munich security conference, a yearly forum for high-level officials to air their views on international security and defence matters. He indicated that there were some potential glitches in the relationship. He mentioned a crucial vote due in the European Parliament this Thursday (11 February), which could derail an existing agreement allowing the US to track intra-European banking transactions in the search for terrorism funding.
EUOBSERVER / BRUSSELS - US national security advisor James Jones on Saturday (6 February) reassured Europe that the transatlantic partnership continues to be strong, but underlined the need for the European Parliament to allow American investigators to access EU banking data to track terrorism funding.
US national security advisor James Jones (l) and Russian foreign minister Sergei Lavrov (m)
"It has become fashionable in some quarters to suggest that the United States has somehow neglected the trans-Atlantic partnership. But ...Europe today is our indispensable partner," Mr Jones said at the Munich security conference, a yearly forum for high-level officials to air their views on international security and defence matters.
He indicated that there were some potential glitches in the relationship. He mentioned a crucial vote due in the European Parliament this Thursday (11 February), which could derail an existing agreement allowing the US to track intra-European banking transactions in the search for terrorism funding.
