"How have you managed to tame Big Tech?" asked Sen. Elizabeth Warren (D-Mass.) on a visit to the European Parliament in October 2023. In recent years, most businesses, including U.S. companies, have been confronted with a growing number of demanding European digital regulations with extensive extraterritorial effects. Now, influential European voices are asking: Has this gone too far? Could these rules and regulations be undermining Europe's competitiveness? Mario Draghi, former European Central Bank chief, raised these concerns in a report in September. He asserted that the European Commission's "legislative activity has been growing excessively" in recent years and that "innovative companies that want to scale up in Europe are hindered at every stage by inconsistent and restrictive regulations." Whether and to what extent Draghi's report will influence the new European Commission following the upcoming European elections remains unknown.
To view the full article, click here.
Originally published by LawFare on the 26th of November, 2024.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
