They can go and **** themselves! The Internet is supposed to be an open space free from undue regulation. If they don't see it this way, tough. They don't controll the Internet anyway so ****em!
This is why I support the USA in its effort to retain control of the Internet's core.
Regulation of terestrial signals used to be because the spectrum was limited etc. Now they want to apply old thinking to new technology. It is insane! It really is... They will however not be able to pull it off without getting draconian. They will have to filter content coming in and going out of the EU. Good luck!