July 1, 2010
Regarding ‘EU wins concessions on US bank data-sharing deal‘:
I see once again that the EU is proposing to let private bank data on European citizens be handed over in bulk to the US.
Once again I see the lie that this data is too big a task to filter in the EU.
The number of transactions through SWIFT worldwide is 15 million daily. By comparison, the number of telephone billing transactions per day in the Netherlands alone is 240 million: more than ten times that number.
It is a lie that there is any technical reason to hand over private data on Europeans like that.
There is no way you can ensure that critical financial competitive data on EU companies is protected, because it is such a small amount of data that it would be trivial to copy.
Indeed, the daily data volume is less than the amount of RAM in modern high-spec home computers.
If you can’t stop people copying a movie, how do you expect to stop the US copying financial data worth trillions in competitive advantage to them?
Please, stop it with the terrorism excuse, turn on your brains and ask yourself how many times you make a telephone call compared to making a bank transfer.
If we can prepare your telephone bill, we can filter your bank transactions.
Ask yourself: if someone lies to you, how likely is it that the rest of their claim is the truth?Author : Letters to the EurActiv editor