What happened: EuroNews quotes the statemen by Meta, “Facebook and Instagram may be shut down across Europe. The issue comes down to European data regulations that prevent Meta from transferring, storing and processing Europeans’ data on US-based servers.” At the same time, Meta’s annual report highlighted that they had warned the EU of the regulations and stated that processing user data between countries is crucial for business and advert targeting.
Details: On the other hand, Germany’s economic minister’s statement was quoted, “After I was hacked I have lived without Facebook and Twitter for four years and life has been fantastic.” Whereas, the Finance Minister from France said, “I can confirm that life would be very good without Facebook and that we would live very well without Facebook.”
More: However, later, Meta revealed that they have no plans to move out of Europe and said, “The simple reality is that Meta and many other businesses, organizations, and services rely on data transfers between the EU and the US in order to operate global services.”
