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There are plenty banks owned and operated within the EU. One bank folded for US pressure but when push comes to shove the EU can force banks in the EU to uphold
by jsiepkes 9mo ago
There are plenty banks owned and operated within the EU. One bank folded for US pressure but when push comes to shove the EU can force banks in the EU to uphold EU rules and regulations.
That's not the case for digital infrastructure like Google Workspace, Google cloud, Office 365, AWS, etc.
- wickedsight 9mo ago> when push comes to shove the EU can force banks in the EU to uphold EU rules and regulations. This made me realize that many people who are extremely critical of the power the EU has, have no idea how much that power is often protecting them. This is not a dismissal of the fact that it's absolutely critical to stay vigilant about how that power is used. But it's quite clear that without that power, the US would've abused theirs way more within Europe.
- phi0 9mo agoWhen the US sanctioned Hong Kong’s Chief Executive in 2020, because of a law allowing extradition to China, no single bank was letting her open an account, including Chinese ones. She was receiving her salary fully in cash. The EU compelling banks to do business despite US sanctions seems pretty unlikely even if relations continue to degrade.
- tomjen3 9mo agoAWS, etc has datacenters in the EU. Microsoft relies on the EUs courts to recognise their property rights.