More a user issue, surely?
I'm not taking sides for or against the EU or Google. But I think the issue of regulating cookie retention is over-rated.
The answer, surely, is in the users' hands? The commonly used browsers - IE6, IE7, Firefox, Opera, Safari, Konquerer - all have the facility to delete cookies (either by demand or on exit). Most have the facility to do so selectively - that is, for users to select which cookies to delete.
Personally, I set my browser to delete all cookies on exit. I know that some people like or need cookie-reliant functionality on some sites so I concede that indiscriminate deletion isn't always an attractive option.
Ultimately it's up to the user how much she or he values their privacy. The paranoid can renew browser sessions between every site; they can set security and privacy settings to 'high'; they can disable Active X (in IE) or run add-ons such as NoScript; they can empty caches or set their browser not to cache anything; they can run Stephen Gould's CleanUp! utility after every browser session; they can break and re-establish their DSL connection to gain a new IP address (assuming their ISP provides dynamically assigned IPs) ; and if they're not in a hurry then can use Anonymouse or Tor.
And all that without any intervention by our masters in Brussels.