Finally an agreement on the Data Protection package. A great day for European citizens and for the European economy.

Following lengthy negotiations an agreement on the Data Protection package has been reached in trilogue. The result will be voted on Thursday in the Justice and Home Affairs Committee of the European Parliament. Viviane Reding welcomes the long overdue agreement and highlights the new opportunities for European businesses as well as the improved data protection for European citizens.

The former Commissioner for Justice, Fundamental Rights and Citizenship and current Member of the European Parliament Viviane Reding welcomes the agreement that was reached in trilogue negotiations on the Data Protection package. As Commissioner responsible for Data Protection, she launched the Commission's original proposal in January 2012. "Our current Data Protection rules from 1995 date back to the pre-Internet era. It is high time that we update those rules. Since my proposal was unveiled four years ago, a lot of time has been wasted, because national ministers have been dragging their feet. Now there is a solution which will be decisive for Europe's digital future and which lays the groundwork for the Digital Single Market. It is about time!" - Reding commented.

For Reding enhanced protection for citizens and new opportunities for European businesses, especially for small- and medium-sized enterprises, are inextricably connected.

The European Commission estimates that the introduction of harmonized European rules could save European businesses up to €2,3 billion per year. The rules currently in force in the EU's 28 member states are fragmented and cause significant additional administrative costs that impede European businesses from reaping the full benefits of the internal market. Viviane Reding clarifies: "One rule for Europe, instead of 28 different national laws, will cut red tape for European businesses. We want to enable our companies to unlock the full potential of the Single market with its 500 million consumers. They need unhampered access to be able to compete with American companies." As for small- and medium sized enterprises, Reding stresses the exemptions: "When data-processing is not their core business, SMEs will not be required to have a Data Protection Officer nor will they have to conduct any impact assessments. On top of that, reporting obligations amounting annually to additional costs of €130 million have been abolished."

For European citizens the agreement means a strengthening of their fundamental right to Data Privacy, enshrined in Article 8 of the EU Charter of Fundamental Rights. This is especially important against the backdrop of the rapid development of digital technologies. Viviane Reding adds that "the new rules clearly state that personal data belong to the individual, and not to businesses. Whatever happens to personal data will require the consent of the individual." Henceforth those rules will apply to all European citizens, and no longer only to those citizens who happen to live in a Member State which already has a high national level of Data Protection.

Finally, Reding points out the strong sanction-mechanism embedded in the Regulation: "When companies do not abide by the rules, they will face consequences. As we are no longer speaking of about fines to the tune of €50'000, but rather €50 million, it will soon be crystal clear also for non-European companies that European law is to be taken seriously in Europe.

Background: The Data Protection package consists of the General Data Protection Regulation and the Directive on the protection of individuals with regard to the processing of personal data by competent authorities for the purposes of prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties, and the free movement of such data. As then Commissioner responsible for Justice, Viviane Reding launched the original proposal in 2012. It is meant to update the European Data Protection rules from 1995. It foresees the unifying of Data Protection rules in the European Union. After the European Parliament voted in favour of the new regulation by large majority, the Council of the European Union delayed the negotiation process. Only in the summer of 2015 the trilogue negotiations between the European Parliament, the European Commission, and the Council could actually start. Under the Luxemburgish Presidency they have now been completed in record time.