5TH JULY 2010: This was a contribution by Andrew Brons to a debate in LIBE on a new draft agreement between the United States and the European Union that will facilitate the transfer of financial data, ostensibly to combat terrorism.

"My objections to this agreement are both procedural and substantive.

"Procedurally, I object to the European Union entering into agreements on behalf of (what should be) different sovereign states.

"I also object to the agreement on substantive grounds. The idea of transferred financial data being stored for up to five years is self-evidently excessive.

"Whilst I would hope that we all share the United States' opposition to terrorism, US foreign policy is much wider than opposition to terrorism. Its policy is to follow a highly partisan Middle East policy to which I would prefer a policy of neutrality.

"I do not consider the extraction safeguards (the alleged restrictions on US access to bulk data that will be transferred under the agreement) to be sufficient to prevent personal and confidential data to be used for other foreign policy objectives or for commercial purposes."