2 § “Den offentliga makten skall utövas med respekt för alla människors lika värde och för den enskilda människans frihet och värdighet.
2 § “Public power shall be exercised with respect for all persons equal value and for the individual’s freedom and dignity.
Recently we were informed that according to point 1.4 of the terms and conditions of investment deposit agreement of Swedbank:
1.4 The Bank does not offer or sell investment deposit to US persons and the Client hereby confirms to the Bank that it is not a US person. The Bank has the right to terminate the agreement immediately if the Client is a US person or becomes a US person during the term of the agreement. The Client undertakes to inform the Bank immediately of any circumstances which could cause the Client to be qualified as a US person. The Bank can also use public information when assessing the qualification of a client as a US person. A legal person can be a US person, among other things, when it is established in the US, acts in accordance with US law, has a US postal address or has some business activities in the US. A representative office or a branch of a foreign legal person can be qualified as a US person on same conditions. A natural person can be a US person, among other things, when it is considered a US resident for tax purposes or if the person stays in the US for some time for educational or work purposes. A person can be considered a US person also under other conditions deriving from US laws…
Does the Commission consider that this condition of Swedbank is related to the recently adopted US law FATCA, the ongoing IGAs on it and the legal uncertainty for the FFI as to the extraterritorial application of FATCA?
Is the Commission aware that the extraterritorial effect of FATCA could lead to banks on the territory of the EU refusing to take US clients?
Does the Commission consider this practice as a violation of the general principle of equal treatment and non-discrimination, or any provision of the EU treaties? Does the Commission consider that the definition of’ US person’ could also include EU citizens, which would mean that EU citizens could be affected directly by US law on EU soil?
“Banks have the right, under the contractual freedom principle, to decide with hom they want to contract. They can in any event refuse clients for sound commercial reasons” (that US persons are too expensive to service in Sweden or the EU)
UPDATED SWEDISH CONSTITUTION, REVISION 2014
2 § “Den offentliga makten skall utövas med respekt för alla människors (UTOM PERSONERA FÖDDES I USA OCH UTOM PERSONER MED EN AMERIKANSK FÖRÄLDER OCH UTOM PERSONER SOM GLÖMDE FILLA I PAPRERNA FÖR USA SOM KANSELLERADE DERAS AMERIKANSK VISUM. OCH, MMM, UTOM VILKEN SVENSK MEDBORGARE SOM HELST SOM MISTÄNKS FÖR ATT BLI EN SÅKAND ÖVANSTÅENDE PERSON) lika värde och för den enskilda människans frihet och värdighet.
2 § “Public power shall be exercised with respect for all persons (EXCEPT FOR THOSE BORN IN USA AND EXCEPT FOR THOSE WITH AN AMERICAN PARENT AND EXCEPT FOR THOSE THAT FORGOT TO FILL OUT THE GREEN CARD CANCELLATION FORM AFTER THEY LEFT USA. AND, UH, EXCEPT FOR ANY SWEDISH CITIZEN SUSPECTED OF ANY OF THE ABOVE) equal value and for the individual’s freedom and dignity.
FATCA IS Supported by EVERY SINGLE SWEDISH PARTY IN RIKSDAGEN, REGERINGEN, AND THE EU PARLIAMENT IS “THANKING AMERICA” FOR FATCA.
FATCA DISCRIMINATES PERSONS BASED UPON THE NATIONALITY THAT THEY ARE SUSPECTED OF BEING.
IT DOES NOT MATTER WHAT NATIONALITY IS BEING DISCRIMINATED (whether you like them or not, whether they pity them or not, whether you respect them or not).
THE OBJECTIVE OF GRUNDLAG IS TO PROTECT PERSONS OF ANY NATIONALITY.
IT DOES NOT MATTER IF THE CAUSE OF THAT DISCRIMINATION IS INSTIGATED BY THAT PERSON’S OWN RACE IN THAT PERSONS OWN HOMELAND. (psssst-remember Eritrea?)
BUT THAT IS NOT WHAT RIKSDAGEN AND REGERINGEN ARE IMPLEMENTING.
You laugh, you don’t believe this could all be true–but here is Riksdagen & Regeringen implementing USA law inside Sweden: