MEPs have denied Washington the right to access EU citizens’ banking data. The SWIFT agreement’s supporters claim it is a crucial counter-terrorist measure, its detractors say it is a clear and unnecessary violation of privacy. Whoever wins this battle wi

SWIFT Agreement Rejected

https://api.multimedia.europarl.europa.eu/documents/20125/15089557/N001-100211-002-EN.srt

It’s back to the drawing board for the EU.

After fierce tensions within   the political groups

MEPs have rejected   the SWIFT agreement,

which allowed the US to view   bank transactions in the EU,

in the name of the fight against terrorism.

MEPs found it unacceptable,   citing the protection of private life.

The data protection issues   did not meet European standards.

The points of legal redress   did not meet European standards

that the Council underestimated that   the Parliament has it’s own mind and will.

The left would have none of it   and made it clear.

Before the vote,   some MEPs on the extreme left

had no qualms expressing their   hostility towards the SWIFT deal.

The European People’s Party, the biggest   party in the Parliament, supported it.

It is in the European Union's   security interests

to have a partnership with   the United states

In Madrid and London we had terror   attacks so it’s in our interest.

The EU will now have to re-open   negotiations with the US,

but this time they’ll have to take   the Parliament into account.