EU, US Reach Preliminary Deal On SWIFT Data

The EU and the United States have reached a preliminary deal.

The EU and the United States have reached a preliminary deal on how U.S. authorities can consult data from the international banking network SWIFT in anti-terror probes, an EU spokesman said on Wednesday.

"We have a draft agreement," the spokesman for EU Justice and Security Commissioner Franco Frattini said of an accord aimed at allaying European data privacy concerns in the U.S. fight against terrorism.