Jimmy Harte (Labour)

Senator Quinn mentioned the cost of credit cards. The Minister for Finance or his Minister of State might clarify the following point at some stage. Whenever someone transfers money to another jurisdiction, for example to Northern Ireland or Europe, through the IBAN or SWIFT system, every transaction is reported to the US Government. When I researched the matter, I was told that the US controlled the system and wanted full information. If I have a son or daughter in Germany or France and want to transfer money to his or her account through the IBAN or SWIFT system, that is reported to the US Government. People may be concerned about what happens to that information when it arrives in the USA. Are we happy that this should continue? If the US Government is getting information on who is transferring money through Europe it may be the first stage on a bigger global financial game it is playing. I ask for clarification from the Minister. Is he aware of this and is he happy that it should continue? Why has it been allowed to happen? It has obviously happened throughout Europe also. Many people have relatives abroad and have money transferred back and forward. This information is obviously freely available in the US and I ask the Deputy Leader to call on the Minister to clarify the matter if and when he comes to this Chamber.