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SWIFT Suspension?

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Revelations the US is spying on international bank transfers have angered European parliamentarians. Some are calling for the suspension of the SWIFT deal between the EU and US. "Washington must make clear where it stands," says one.

The recent revelations regarding the degree to which the US intelligence agency NSA monitors bank data in the European Union has infuriated many in Europe. "Now that we know what we have long been suspecting, we have to protest loudly and clearly," Jan Philipp Albrecht, a legal expert for the Green Party in the European Parliament, told SPIEGEL ONLINE. He is demanding a suspension of the SWIFT agreement, which governs the transfer of some bank data from the EU to anti-terror authorities in the United States.

On Monday, SPIEGEL reported that the NSA monitors a significant share of international money transfers, including bank and credit card transactions. The information comes from documents in the possession of whistleblower Edward Snowden that SPIEGEL has been able to see. "Follow the Money" is the name of the NSA branch that handles the surveillance. Information obtained by "Follow the Money" then flows into a financial database known as Tracfin. In 2011, Tracfin had 180 million datasets -- 84 percent of which are comprised of credit card data.

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And the fallout continues.

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And the fallout continues.

Countries are really starting to reconsider how much they need some of those US ties...

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Before Snowden:

NSA = Hubris

Since Snowden:

NSA = Information pilferer

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