This seems less about privacy and doing what's right for EU citizens and more about European countries enacting some kind of protection scheme to give American companies a disadvantage when doing business there.
In a more cynical light, maybe build up some 'value' that can then be 'traded' in a US/EU TTIP deal?
"Look, the EU is reasonable and wants to get rid of the cookie ruling and the high bar for startups on geographical server requirements - TTIP would allow all this to happen!"
