This is utter madness...
@"EU data protection law states that personal data must only leave Europe if it is protected as well as it would be within Europe." and "high data protection standards"
That statement about protected is meaningless considering the number of data leaks we have seen in Europe. Also and far more importantly talking about protection on the data is totally missing the point that they are sending too much data out, like all our banking records. Protection on the data format isn't protection on what data they send out, yet the morons in government seem to believe it is and so fail to see how much of our data is being sent out. They think its protected!. (At least thats the double speak they are trying to convince us to believe ... yes its protected see (well only the format is protected, what data they leak isn't, yet they want us to think everything is ok, go to sleep now, Big Brother is watching over you!).
Plus without any doubt at all, this leaking of so much information will be used for industrial espionage. Protection of America also means financial protection of America and so they use their spooks for industrial espionage, but they don't even need to now, as we just download all our data to them now!
@"The US would feel the benefits immediately"
WTF!! about EU feeling the benefits!! ... Its all so one sided. Why the hell are America not releasing their banking data to Europe. I know why, its because American civil rights prevents America doing to its own people what they are getting away with doing to Europeans! ... plus they wouldn't want their data leaked the way we have to suffer it being leaked, yet they expect us to just leak our data to them and its all done in the name of the endless perpetual war against Terrorism which is a blank cheque way to totally erode all our civil liberties, in the name of safety from fear!