Meta Platforms Inc (formerly Facebook) has denied any allegation of wanting to leave Europe calling it “just not true”, in his latest blog post. This development comes a day after Meta, in its annual report, said that if it couldn’t rely on existing or new agreements to switch data, then it “probably couldn’t offer a number of our most important products and services, including Facebook and Instagram, in Europe”.
However, Meta in its latest blog clarified: “We have absolutely no desire to withdraw from Europe; of course not. But the simple reality is that Meta, like many other companies, organizations and services, relies on data transfers between the EU and the US to operate our global services. We are not alone. At least 70 other companies in a wide range of industries, including ten European companies, have also raised the risks related to data transfers in their earnings statements.
Meta said that it has also highlighted this before and that this development is “not new”. “We have increased international data transfers in each of our earnings since at least the second quarter of 2018, and highlight the specific risk to our services in Europe and the need for an EU-US data transfer mechanism. USA safe in our last four wins.”
According to a Bloomberg report, European Union regulators have been locked in negotiations with the US for months to replace a transatlantic data transfer pact relied on by thousands of companies, but which was struck down by the Court of Justice. EU justice in 2020 for fear of citizens. Data is not secure once it is sent to the US.
Meanwhile, the social media giant faced backlash from European regulators. According to AFP, German Economy Minister Robert Habeck and French Finance Minister Bruno Le Maire said they would agree to Facebook not having a presence in Europe.
Earlier in its previous annual report, Meta had already warned that if it is not allowed to use standard contractual clauses, it would be “unable to operate” parts of its business in Europe.