Facebook warns privacy rules could force it to exit European market

I'm torn between it probably being a good thing to have some more competition if Facebook's market dominance were lessened, but also wondering how it can be replaced.

If they were to pull out of Europe (which I can't see happening), then who would replace them - you would have to either be a Euro-only social network or just a more privacy focussed global social network, both of which have questionable profitability I imagine.

We can only hope... :)

Unfortunately, while a net win, many will lament the loss of ability to communicate with their friends, relatives etc.