Why should Google be able to profit off of others content without compensating them? Compulsory licenses are standard in the music industry, and in theory the same could work well for journalism. But the devil is in the details.
Mark my words: if this were enforced, people and most companies would simply stop linking these sites. What I think will happen instead is that many websites would not want this kind of situation, so we will add a new clause to the robots.txt permitting linking and small snippets, and most websites would enable it rather than lose the link and search traffic. Then we'd be back where we started.
By the way, what happens when an European newspaper is hosted in US? What laws apply?
Maybe search engines could adopt some sort of standard that would allow pages to provide their desired description using meta tags if they don't want an automated summary. I could see a problem with pages using dishonest summaries, but perhaps that could be addressed by penalizing the page rank if the provided summary is too different than the summary that Google would have generated.