PL&B International E-news, Issue 93

1. EU and US to sign secret SWIFT agreement before 1 December

The EU and the US are racing to sign an agreement for the US to see EU banking details before the Lisbon Treaty gives the Parliament a veto on 1 December. According to a ‘Restricted’ EU document, the US and the EU have agreed to sign an agreement to give the US access to purely European financial transactions before 1 December, when the Lisbon Treaty will require approval by the European Parliament. They also are racing to agree before the SWIFT financial messaging centre in Belgium has its new 150 million Euro operating centre in Switzerland take over European transactions on New Year’s Day.

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