Is the NSA Spying Saga Now Negatively Affecting the American Economy?

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The can of worms that is the NSA’s PRISM fiasco just won’t stop stinking, and now economic experts are starting to express concerns over the possible economic impact that the story may have on an already strained American economy. And these experts are not just being paranoid; there is real danger of the economic fallout, especially between America and her traditional trade partner, the European Union, over these NSA claims.

During the ongoing Transatlantic Trade and Investment Partnership negotiations, it is being reported that European delegates are not happy with reports of the NSA spying on EU residents. There is talk of great discontent among the European delegation with how their American counterparts are handling the NSA data collection allegations. The Europeans are also concerned that ratifying this trade agreement will weaken the privacy right of EU citizens.

The position that the European delegation has adopted is one that asserts that the online privacy of Europeans is a fundamental right which must be respected and upheld. It is understood that the Europeans on this negotiation understand that with European data being valued at over $315 billion, they have good numbers on their side.

In a separate trade event in Brussels, an US Department of Sate representative says that while the NSA’s alleged activities have strained relations between the EU and America, commercial movement of data has remained pretty much unaffected.

European organizations agree with their representatives at the trade negotiations, considering that a survey recently revealed that in excess of 70% of EU residents want to know and control how their data is being used online.

If these talks collapse, the economic impact of the NSA’s actions will start to be felt. Remember we always say that unless you take matters into your hands and get a way to stay private and anonymous online, for example through a VPN subscription with a reputable provider, you will always for the subject of debates like the one above. Personal privacy is largely the responsibility of individuals, especially now that we know governments are part of the violators of online privacy.