Scotland's Lib Dem MEP votes against one way transfer of financial transactions to US authorities

11.00.00pm GMT Wed 17th Feb 2010

George Lyon, Liberal Democrat MEP for Scotland, has voted in the European Parliament to block attempts to transfer confidential information about EU citizens' financial transactions to US counter-terrorism authorities.

The blocked measure would have authorised the financial messaging network SWIFT to share customers' transaction details with the U.S. government. The US claims the information is needed to root out transactions related to terrorism.

SWIFT, based near Waterloo in Belgium, is currently responsible for communicating most transactions between financial institutions around the globe.

Commenting, Mr Lyon said: "This was a bad deal that undermined the privacy and security of people across Europe.

"In striking it down, the European Parliament has signalled its intention to use the new powers gained through the Lisbon Treaty to stand up for individuals rights in the face of state control.

"Just like the US-UK extradition treaty, this was a one way ticket, with data about European citizens being given to Americans with nothing in return. If the same deal was brought before the US Congress it would undoubtedly be rejected.

"It is right that financial transactions that fund terrorism should be rooted out and stopped. But US and EU Governments must come back with proposals that do not threaten individual freedom."