Last year and in February, we watched as the EU balked at US demands for data-sharing under the SWIFT program. The Belgian cooperative in charge of the international money transfer database moved its servers to the EU, but the US still wanted the same access it had had when the servers were in the US. The US had tried to push through a last-minute deal before EU Parliament changed hands last year, but the Parliament rejected that deal. So now the EU is trying to decide what kind of data-sharing they’ll have with the US.

Last night I went to bed before I looked at the new SWIFT Agreement giving the US access to all of Europe’s finance data to track for terrorists. Here’s that agreement and here’s a Q&A document about what the agreement does. The agreement is instructive both for what it suggests about the negotiations between the US and EU, but also for what it suggests about the protections the US is willing to grant citizens of other countries that it is not extending to its own citizens.