The Register, being British, should probably have gotten this right, but people constantly get this wrong. Even a lot of people living in the union don't even realize the different between EU, Europe, EEA, Schengen and all the other layers, so maybe it's hard to blame "outsiders" from not getting it either.
I'm guessing maybe the "European Commission" threw them off, because it's an EU entity (basically the executive branch), not "Europe wide" one, which the name kind of implies. But then "EU" also implies "Europe wide" in its name, and people seem to kind of get the difference most of the times.