Re: Data to US companies is suspect and in the wrong hands
1- <this separation from 5 eyes is exactly why the Swiss run their own national clearing centre.>
I agree, it is Europe and especially the Eurozone that has risks and problems.
2 - <the ECB is not going to give the impression of competing with national banks in how to get hold of our money quickest. Politically far too dangerous.>
Good point. I don't think the ECB has to run it, more that it could make sense to facilitate such a program. Maybe they could channel the job to a competent outsider, which might even be Visa. But there is a question in the background, whether a few top banks are essential for clearing transactions, and should be well rewarded for the drudgery, or whether a shared secure automated system is sufficient, or better, e.g. for the chosen topic of shared electronic micropayments.