EU demands new powers to threaten tech giants

EU demands new powers to threaten tech giants

The European Union desire to arm itself with new controls to penalize big technology companies, the Financial Times reported on Sunday.

According to the Financial Times report, the intended plan includes forcing tech giants to dissolve or sell some of their European operations if their market dominance is judged to threaten the interests of customers and smaller rivals.

The commission is set to suggest new rules called the Digital Services Act by the end of the year, which will raise social media’s responsibilities and liability for content on their platforms.

In an interview with the Financial Times, EU Internal Market Commissioner Thierry Breton said the proposed remedies, which would only be applied in extreme circumstances, also include the ability to eliminate large tech groups from the single market altogether.