The European Parliament has adopted the so-called SWIFT agreement on 8 July 2010 allowing sharing EU citizens’ bank data with the US authorities, but failing to stick to its initial position on privacy safeguards from February 2010. (..) However, even the data protection European bodies – EDPS and the Article 29 Working Party – have underlined that the current agreement does not meet the European privacy standards. (..) There have been reports that the US Treasury has received up to 25% of all SWIFT transactions, which number in the billions each year. (via)
Seems that the EP still cannot guard basic privacy rights for EU citizens.
5 Years more of lack of civil rights as financial privacy. This adds to the believe that the EU is still toothless and doesn’t fend with the power, it really should have!
See also earlier posts.