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EU's new data protection rules will "kill cloud computing" in Europe, warn Amazon, Cisco, IBM and SAP

Computing - New European Union Data Protection Regulations expected to be finalised today will kill the trading bloc's cloud computing industry and push internet companies out of the continent.

That is the warning of technology giants as diverse as SAP, IBM, Cisco and Amazon.

The new regulations, which are expected to be finalised today after a tortuous three-year process will, according to Reuters, enable EU citizens not just to sue companies that hold their personal data, but also organisations that process it on their behalf.

On top of that, organisations found to be in contravention of the regulations will face swingeing fines calculated as a percentage of turnover.

But the measures, according to Reuters, have been opposed not just by US technology and internet giants, such as Cisco, IBM and Amazon, but also German software giant SAP. They say that the regulations will kill off Europe's cloud computing industry and drive companies out of the trading bloc.