Late last month, EU Home Affairs commissioner Cecilia Malmström announced the resumption of the Terrorist Finance Tracking Program (TFTP), under which American counterterror investigators have consulted and analyzed selected data on international bank transactions originating in Europe. The resumption of the program had been held up by the need for the EU to appoint a person to serve as “overseer” of the program per the terms of the revised so-called SWIFT agreement, which was approved by the European parliament in July.
On August 26, Ms. Malmström announced that the requisite “person” had been appointed. She did not, however, reveal who it is. But given the powers that the agreement confers upon the European overseer, the identity of the EU’s “person” is obviously of great significance. Indeed, just whether the TFTP is in fact “fully restored,” as President Obama has confidently asserted it would be, will depend entirely on his or her discretion.
See my new article on weeklystandard.com here.