The European Parliament has blocked a key agreement that allows the United States to monitor Europeans’ bank transactions – angering Washington.
The US called the decision a "setback for EU-US counter-terror co-operation".
The vote was a rebuff to intensive US lobbying for EU help in counter-terrorism investigations.
EU governments had negotiated a nine-month deal which would have allowed the US to continue accessing the Swift money transfer system.
Full Story: http://news.bbc.co.uk/2/hi/europe/8510471.stm