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National security. Why would the EU let some foreign country have access to all their citizens' private and work email, social media profiles and e-commerce purchases? Especially when it has been proved that that country's intelligence agencies have access to all of FANNG's data on EU citizens through various intelligence programs.

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I agree, national security and privacy are both great reasons for the EU to take action against American megatech corps. Honestly I see little downside at all and I even think Americans citizens would also benefit from having these corporations knocked down a peg or three.

Of course shareholders would squeal like stuck pigs about efficiency, economies of scale, etc... but that's to be expected and, depending on your perspective, might even be part of the fun.

National security of EU countries is provided by NATO, though. Few EU countries spend a lot on defense.

I think the wider point is that national security is not just about guns, it can also be about media ownership, social media platforms, and electoral laws about communications and funding.

if a government can't effectively physically protect their citizens, then they have no rightful sovereignity over their data

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