I was wondering how this would fit if an entity like equifax wanted to hide a data breach. However, reading your statement again, failure to report a security breach is unlawful in all fifty states as far as I can tell from a Google search (I anal, I don't know the law) so I'd imagine EU laws would be at least as strong as this.
With that out of the way, yes, I am ok with this.
Those are not really a thing in the EU (at least, not for regular police)
> you're not free if the government can just seize your things when you have not broken any law
This is something that can and does happen in the Netherlands, f.e. when the government feels they need to destroy your apartment and build a new one (as part of gentrification, generally). They are tangentially required to get you replacement housing, but not at the same price or in a similar location. Thus, not in any practical sense. If they cannot find this for you they will still kick you out and where you will live after is your problem.
The Netherlands is party to the ECHR. Article 5 through 8 inclusive are relevant, especially Article 8.
The Dutch constitution may also cover this ground, but I'm not familiar with it.
Though reading Article 8 -- Right to respect for private and family life -- I'm not sure if this matters IANAL
> 2. There shall be no interference by a public authority with the exercise of this right __except such as is in accordance with the law__ and is necessary in a democratic society __in the interests of national security, public safety__ or the economic well-being of the country, for the prevention of disorder or crime, for the protection of health or morals, or for the protection of the rights and freedoms of others
That feels like as long as it is the law then it doesn't violate Article 8. Seems that saying it is for public safety is also another way to get around this. I also noticed this in Article 11 (right to assembly) and some others. Not being a lawyer, these seem pretty non-binding.
The good news is that “necessary in a democratic society” is a high bar. Thankfully there have been several successful challenges to government mass surveillance in the past, under this Article.
Unfortunately, proposals like this keep coming back, and you never know what way a court will rule.