You people can keep on saying that this law pertains to any entity/organization that has any info on any EU citizen, but we know this is untrue. The rest of the world knows that the EU doesn't have this authority, so I don't why you people keep on parroting this line.
Let's get something else straight. We know there's political motives behind this law that are orthogonal to "we care about privacy", and other governments know this as well, and will respond to the EU in kind if need be.
The EU want to implement something like a virtual settlement for Businesses to extend their reach. Arguing that if you make profit in the EU than you have a settlement there. But as long as your country isn't willing to help the EU getting you there is nothing to fear.
At least I don't see what they could do. Ban your product... yes... But more than that?
Oh yea I was asking exactly this. How does EU national verify what NSA tells them. There is no way for them.