EU May Forbid the Transfer of Personal Data To the US
An anonymous reader writes: As the Snowden revelations have shown, personal data stored in the United States of America is not protected from the US government, be it through warrantless eavesdropping or national security letters. In light of this, the general attorney for the Court of Justice of the European Union has just issued an opinion requiring the US to be removed from the list of "safe harbors", where the transfer of personal data of European citizens is permitted. If the court follows his opinion, the change will have deep impact in the operations of large transnational Internet companies, between a US government that wants to keep on spying, and European authorities that will punish them if they let it happen.
The US needs to wake up to the fact that it doesn't set policy for the world, and that other jurisdictions have their own laws and regulations that US companies have to abide by if they want to do business there.
Enough with jackboot "treaties" that the US doesn't even try to abide by after signing them. :(
I do not fail; I succeed at finding out what does not work.
Or
US corporation stay within the USA, missing out on doing business with 96% of the worlds population.
At one point the USA made up about 60% of the worlds GDP, that meant doing business with the US.
Now the US is about 1/3 of the worlds GDP, meaning more money can be made dealing with everyone else.
The US is no longer able to dictate to the world, and that scares US politicians shitless, they don't know how to behave when not in charge.
Cough, Germany, UK, etc. etc. Cough cough.
This is just more "Anti American Company" bullshit that parts of the EU pull every once in a while because they're mad all the big internet companies are in the US and stuff and not in the EU. Oh sure, the proposed purpose SOUNDS noble. Except plenty of countries in the EU already do the same thing they're protesting so loudly about. So really it has nothing to do with privacy, and everything to do with throwing a hissy fit that they don't have their own Apple or Facebook.
This.
There is no "right" for US corporations to participate in foreign markets. If they don't want to abide by the terms of a foreign nation's laws, they're free not to do business there.
They are not free to impose US law on those nations.
I do not fail; I succeed at finding out what does not work.
And then we get into a tit for tat situation. The US will make it hard for European Union corporations to do business here. It wont be good for anyone but the US has deep pockets even with the last two presidents presiding over a spending spree of biblical proportions. It's arguably more self sufficient than the EU. It'll be bad for the world in general. I expect there will be some sort of compromise way before anything like that happens though.