Rumors of Meta exiting Europe, Meta responds to the situation

Meta (previously known as Facebook Inc.) may consider closing its Facebook and Instagram services across Europe. The difficulty arose when the EU’s data regulation won’t allow Facebook to transfer and store the user data back to America. Meta reported to U.S. financial authority that the U.S. Securities and Exchange Commission gave the warning that if a new structure has not been constructed, the company will not be continued with the set of the agreement it currently has. This could cause Meta to shut down its services in continental Europe. According to the giant, the data transfer between the two continents is a highly important aspect because it may affect its business and advertisement strategies.

Previously, Meta could easily transfer data through a structure called privacy shield until Europe’s Supreme Court nullified the method because of the data violations. According to the Supreme Court, Meta’s method is not up to the standards and it fails to protect the privacy of its residents. According to the statement by Meta, if they are not able to exchange the data between the countries where they operate in or are prevented from sharing the data on their platforms could affect the ability to provide the services needed.

They further explained that they might be able to reach a new term of the agreement, but if not they might have to limit the services that include both Instagram and Facebook in the European continent. The sudden disappearance of Facebook and Instagram might surprisingly sound weird. Especially with the influence it holds that they have on the market. Many new startups and businesses highly rely on these platforms, as it is one of their main sources to connect with their customers. With the removal of these two major platforms in the EU, the business community there might find themselves in trouble.

Facebook and Instagram will not only affect professional lives but as well as personal lives too because both of them are the most used social media platforms in the world that help connect people from all over the world virtually. With Meta’s departure, immigrants or residents that have relatives living abroad might need to switch to a newer platform. However, the legislation is yet to be finalized.

For now, the tech companies are willing to do whatever it takes to preserve the freedom that they were enjoying till now. For now, according to Meta’s public policy VP Markus Reinisch, he stated that Meta right now has no desire to withdraw from the EU. He further explained that many other services depend on data transfer between the US and EU to make services operate globally.

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