
The Spanish Home Affairs Minister, Alfredo Pérez Rubalcaba (right) and the European Commissioner for Home Affairs, Cecilia Malmström (left), during a press conference about Justice and Home Affairs Council in Brussels. EFE
The EU has concluded its mandate for negotiating a new agreement with the US on the transfer of bank data (popularly known as the SWIFT agreement), according to a statement of the Spanish Home Affairs Minister, Alfredo Pérez Rubalcaba, at a press conference given following the meeting of the Home Affairs Council, which was held this afternoon in Brussels.
"The SWIFT Treaty has been prepared by the Commission in record time, everybody has made a big effort to finish it and the mandate is now politically concluded. Agreement was reached after this morning's discussion. We have a mandate which we could not formally approve, because there was no quorum in the Council, but its formal approval will take place in the Council of General Affairs on 10 May", the minister confirmed.
Rubalcaba insisted the the mandate held by the Commission for negotiating a new SWIFT programme "naturally" contains some of the precautions raised by the European Parliament, the Council and the Commission itself, essentially with regard to data transfer.
The European Commissioner for Home Affairs, Cecilia Malmström, added that "we have a mandate which is very ambitious but pragmatic, which covers additional measures for shoring up data protection, ensuring that the fight against terrorism is the sole purpose, and also equipping ourselves with due compensation mechanisms".
"It was a lively debate, we have achieved a political agreement endorsed by all member countries and as such, I can begin talks with the Americans during the first week of May so that when everything is agreed, we can enter into formal negiotations", the Commissioner announced.
SWIFT is the name of the company that manages the majority of data on financial transactions, through which it is possible to follow financial trail of alleged terrorists.