Facebook Says It Is 'Absolutely Not Threatening' To Leave Europe After Many Welcomed the Move

Markus Reinisch, Vice President of Public Policy Europe at Meta, writing on company's blog: There has been reporting in the press that we are "threatening" to leave Europe because of the uncertainty over EU-US data transfers mechanisms. This is not true. Like all publicly-traded companies, we are legally required to disclose material risks to our investors. Last week, as we have done in our previous four financial quarters, we disclosed that continuing uncertainty over EU-US data transfers mechanisms poses a threat to our ability to serve European consumers and operate our business in Europe. We have absolutely no desire to withdraw from Europe; of course we don't. But the simple reality is that Meta, like many other businesses, organisations and services, relies on data transfers between the EU and the US in order to operate our global services. Further reading: We're Fine Without Facebook, German and French Ministers Say.

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