I think it is fair that any company lives by the rules of a country it wishes to make business in. I don't like the idea that companies whether they be foreign or not set the rules of the game. This is up to politics whether companies like this or not. Therefore, as a European I would welcome any ruling which forbids transfer of personal data outside the realm of the jurisdiction I am living under. This might be uncomfortable for Google or Facebook but I think especially the handling of personal data is more important as whether it is convenient for them to do business here.