Viviane Reding’s proposes EU-wide data protection regulation

In an attempt to do away with the needless hurdles created by privacy rules dating back to 1995, the European Commission’s Vice President Viviane Reding proposed on Tuesday that privacy rules should be harmonized across the 27-nation bloc such that the move facilitates the operations of Internet companies, provided they are approved by one national data protection authority (DPA).

Addressing a conference organized by the International Association of Privacy Professionals in Paris, Reding said that she intends presenting the proposal in early 2012 so as to smooth the progress of negotiations of legally-binding corporate rules under the new European Union (EU)-wide data protection regulations.

The move proposed by Reding will essentially eliminate the obstacles that privacy rules have been creating unnecessarily --- the hurdles which, linked to the time when Internet was emerging; have been spelling a staggering €2.3 billion, or $3.1 billion, cost to the companies per year as 27 different countries seek compliance with their own rules.

Noting that even though it may appear slightly absurd to bring up the issue of a requisite overhaul of the EU privacy regulations at a time when debt woes have led to a situation of extreme discord within the bloc, Reding stressed that the proposed was crucial to increasing the competitiveness of the European economy in order that it can overcome the debt crisis.

Reding said: “I think I am persuaded that while bringing member states out of their debt crises, we have to do everything we can to help our companies grow.”