EU stalls bank data deal with US ahead of Lisbon Treaty

According to EUObserver.com, opposition from four EU member states to a draft agreement between the EU and US allowing the use of banking data in anti-terrorist investigations is likely to delay a decision until after 1 December, drawing the European Parliament into the decision making process.

Citing data privacy concerns, Germany, Austria, France and Finland are opposing the text negotiated by the Swedish EU presidency and the European Commission allowing American authorities access to information from the Society for Worldwide Interbank Financial Telecommunication (Swift) - the interbank transfer service.

Read the article here: http://euobserver.com/9/28984/?rk=1