Bollocks. The companies that will be hit first by this are European companies. And Foreign companies that make a point of ignoring the law, but obviously that is their own choice.
EU companies will have no choice but oblige, if foreign companies choose to not comply will be subject to other restrictions like not able to use Euro as currency. It is like China's situation, if you are not actively harmonising yourself with the regulation, in it will surely backfire at some point, which result you are out of business.
