AI Policy & Regulation
11h ago
European Banks Encouraged to Collaborate in Negotiations with US Tech Firms
Jul 10, 2026
AI Summary
A report from Dutch authorities suggests that banks and financial institutions should unite their purchasing power to enhance their negotiating position with US technology companies. This recommendation aims to address Europe's increasing reliance on foreign providers for essential services like AI and cloud computing.
- A report presented to the Dutch government highlights the need for banks and finance firms to combine their buying power.
- The report is backed by the Dutch central bank and the data protection agency, emphasizing the growing digital dependencies on foreign companies.
- It argues that collective buying can be pursued without violating antitrust laws, as long as it adheres to existing exemptions.
- The proposals are part of a broader effort to achieve strategic autonomy for Europe in critical service sectors.
eu banksbuying powerus tech giantscloud computingai services