Friday, 13 September 2013

austausch, b-gosh

Long had European Union Commissioner for Internal Affairs Malmström held her tongue over the on-going revelations of the breadth and depth of indiscriminate intelligence gathering on the part of the US—not, I think, out of a lack of concern or zeal but rather to not bait controversy prematurely, but digesting the reported reach of the spying, suggested that the lack of transparency could lead to the EU's withdrawal from the SWIFTBanking Treaty with the United States.

The agreement provides that the signatories hand over certain financial transactions to America, in the name of combating tax-evasion and money-laundering and rooting out all imaginable evils. Malmström, after learning how the SWIFT clearing-house for international bank transfers is apparently already subject to eavesdropping, she questions why they are now asking permission. Her statements have galvanised the parliament in Strasbourg and several factions have agreed to join together with demands that all cards be laid on the table, including back-door practices. Quitting the treaty would be a significant affront US-EU relations and mark the first time that a bilateral data-sharing (Austausch) arrangement was challenged—a few of which the Swedish commissioner herself helped orchestrate.