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The European parliament REJECTS a controversial deal with the US on sharing bank data

February 11, 2010

The European Parliament has rejected a deal which would have allowed the United States to collect banking data of EU citizens. The SWIFT network - as it is called - records some 15-million transactions per day. Washington said it needed access to it as part of its anti terrorism investigations. But EU parliamentarians believe this would have violated the privacy rights of European citizens.