It's a problem for two reasons. First of all it means American companies get access to a lot of privileged information. Secondly, them pushing foreign morals eg sexual content or services being blocked.
replyIf there were an EU card system id certainly sign up for it and demand from vendors that they support it. I don't want my data ending up in America especially these days.
The network effect will work out fine because we have reasons to want it.
Its a problem but a global one, not merely a European one.
replyNetwork effects are very powerful.
You might care enough about privacy but most people have given up.