Re: Short Version
"**USA** Yes. Sorry. We lied. But we won't do it again
**Europe** Promise?
**USA** Sure!
**Europe** That's all right then."
You've forgotten to take into account the 'annual joint review' - a written commitment by the US, and an audit by both sides:
[Once per year]
** US ** Dear Europe, we can confirm that we will not snoop on your citizens' data. Yours, The US.
** US Sock Puppet** Yup, Europe, I've checked, my country is definitely sticking to its promise, you can take my word on that.
** Europe ** Is your Sock Puppet correct? Are you definitely sticking to your promise not to snoop on us?
** US ** Oh, definitely, definitely. There's no way we'd do that again. No way.
** Europe ** Promise?
** US ** We swear!
** Europe ** Okay, then! We'll be back to check again next year!