Europe Rejects Bank Sharing Plan with the United States
The European Parliament rejected a U.S. proposed plan which would allow the release of suspected terrorists’ bank transfer information. The agreement would have saved the United States the strenuous process of obtaining bank data from individual countries. The plan was signed in November but needed final parliamentary consent. At the beginning of February it had gone into effect provisionally while a more concrete agreement was to be reached. Amidst allegations of separate unilateral agreements for more data protection between certain member states and the United States, the consensus for rejection among parliamentary members was that the agreement allowed the United States too much interference into the personal privacy of their citizens.
Read more at the NY Times.