The European Union Is Threatening To Freeze It's Data-Sharing Deal With The US On Tracking Terrorists' Funding

Swift says it has found no evidence to suggest that the NSA infiltrated their network (Photo: ec.europa.eu)

EU Threatens To Suspend Deal With US On Tracking Terrorists' Funding -- The Guardian

EU commissioner dealing with fallout from NSA and GCHQ snooping scandal says US needs to provide more information.

The European Union is threatening to freeze a crucial and controversial data-sharing deal with the US aimed at tracking terrorist funding because of the National Security Agency snooping scandal.

Cecilia Malmstrom, the EU commissioner responsible for dealing with the fallout from the NSA and GCHQ disclosures, said she was unhappy with the information supplied by the US government and that the so-called SWIFT agreement of 2010 which supplies bank and credit card transaction data to the US treasury to help track terrorist funding may need to be suspended if the Americans were breaking the deal.

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Update: EU wants answers on NSA bank spying allegations -- EU Observer

My Comment: I sincerely doubt that the Europeans will terminate this agreement .... it is after-all in their own interest to make sure that terrorist funding is tracked and monitored. But they are upset .... and they are making it very clear to the U.S. that they want answers.