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Meta warns it may shut Facebook in Europe but EU leaders say life would be 'very good' without it

Facebook and Instagram may be shut down across Europe, parent company Meta has said.

The issue comes down to European data regulations that prevent Meta, the company formerly known as Facebook, from transferring, storing and processing Europeans’ data on US-based servers.

European leaders, however, have embraced Meta's warning.

“After I was hacked I have lived without Facebook and Twitter for four years and life has been fantastic," Germany’s new economy minister Robert Habeck told reporters during a meeting in Paris on Monday.

Speaking alongside his German colleague, French Finance Minister Bruno Le Maire added: “I can confirm that life would be very good without Facebook and that we would live very well without Facebook”.

What has Meta said?

In its annual report to the US Securities and Exchange Commission, the country’s financial authority, Meta warned last Thursday that if no new framework is adopted and the company could no longer use the current model of agreements it would probably have to walk away from the continent.

Meta stated that processing user data between countries is crucial for business and advert targeting.

Source: euronews

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