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FATCA is an agreement signed between countries, not between the US and foreign banks. The US certainly has more leverage with the USD than the EU with the EURO
by throwawayiionqz 6y ago
FATCA is an agreement signed between countries, not between the US and foreign banks. The US certainly has more leverage with the USD than the EU with the EURO but trade agreements are made of various things and the US cannot simply bully the EU and Asian countries with FATCA indefinitely. I can't wait to see how this plays out in the next 10 years.
- eesmith 6y agoThere's the US involvement with SWIFT, including seizing intra-EU payments - https://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication#U.S._government_involvement https://en.wikipedia.org/wiki/Society_for_Worldwide_Interban...