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The EU wants to give itself the power to kick US tech giants out of Europe

The EU wants to give itself the power to kick US tech giants out of Europe

EU commissioner Thierry Breton.
Reuters




The EU is looking to give itself sweeping new powers to crack down on US tech giants, EU commissioner Thierry Breton told the FT in an interview Sunday.




The regulatory blueprint includes massive penalties to force tech companies to sell off their European operations and even shutting them out of the European single market.




Breton compared the power tech giants wield now to that of the banks before the financial crisis.




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The EU is looking to give itself sweeping new powers to crack down on US tech giants, EU commissioner Thierry Breton revealed to The Financial Times in an interview Sunday.Breton told the FT the new powers the EU is seeking include punitive measures such as forcing tech companies to break off and sell their European operations should their market dominance grow too large.Another massive penalty being considered is that the EU could boot tech firms out of the European single market altogether. Breton said these measures would only be used in extreme circumstances, but did not elaborate on what would qualify as extreme.
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