But in all honesty, the current directive was already a dead man walking after the German implementation was killed by the German constitutional court. And AFAIK, Germany is not the only country where the directive has run afoul of constitutional protections.
That, plus the fact that in countries like Sweden and Denmark intelligence agencies have already abused the directive to go completely NSA on their own population is just adding nails to the coffin.
The EU data retention directive may not be technically dead yet, but it smells and looks like a corpse already. And reviving it in the current post-Snowden climate is unlikely.