Europe suspends Terrorist Finance Tracking Program

In a move that is bound to piss the US off in truck loads, the EU have suspended the TFTP. The US claim that this information is essential to track the money used to finance terrorists. As it stands, the US have been tapping the SWIFT finance system anyway (SWIFT is essentially a world wide currency clearing house. It deals in volumes of money in the billions. Oh, and Iran has been suspended from the system, forcing it to become a cash only economy), so surely the yanks have access to the information they need?

It would outwardly appear that the gloves are off in this spat over spying on the Europeans, and I can’t see this problem for this US going away.

http://www.bbc.co.uk/news/technology-24652419

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