The data economy and how Europe can protect itself from another economic shock

The European Union in Slovakia is perceived mostly positively in most economic topics. It is our main business partner through the single market and thus provides various opportunities for expansion for Slovak companies. That is why it is necessary to point out when European decisions can hit Slovak companies negatively.

One of these cases is still seen these days. The ruling of the European Court of Justice has annulled the existing data protection and transfer agreements between the United States and the European Union. A legal conflict is emerging between the two economic and political partners, which has the potential to freeze the functioning of the thousands of European companies that have been literally dependent on legal certainty in this area in their day-to-day operations.