My guess is that this worry is why Microsoft's opposing the order. The university I work at in Denmark uses Office 365 specifically because Microsoft was able t

My guess is that this worry is why Microsoft's opposing the order. The university I work at in Denmark uses Office 365 specifically because Microsoft was able to convince them that data will only be stored in the EU, and will only be accessed in accordance with EU data-protection law. If Microsoft can't credibly maintain that claim, European companies and universities may not be able to use their cloud services.