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We call it Filternet now.
With all the baby prisons in the USA happening at the same time, this story has flown under the radar a bit.

Can anyone politely explain how the fuck the EU voted in this insane law that basically breaks the internet? This is infuriating. I think the net result will be similar to what the LA Times is doing since GDPR started: the site is simply not available anymore in Europe. After this new law comes in, no one will want to make their site available in Europe for obvious reasons. Or am I missing something?

You missed fact that it is not law yet. It just cleared the last hurdle and can be put to a vote in the EU parliament on the 4th of July (probably) to confirm the draft.

After that it can be discussed by the european council.

It still has some way to go.

Sure, but the fact that they dreamed it up and it got this far is worrying.
Actually, LA Times will be happy to collect money from anyone linking to them.

The GDPR is a law to protect user data.

Article 13 is there to automate the creation and execution of copyright claims taking over freedom of speech and self-expression.

Article 11 is there to help newspapers to monetize their digital distribution as most of them have not found a sustainable way of doing so by themselves at the cost of other companies with a digital presence.

GDPR and this new law are at two opposite sides of the spectrum.

> One, article 13, sets the stage for large scale corporate surveillance of internet users, especially by the largest platforms such as Google and Facebook. The article, sometimes referred to as “the Google tax”, will require all content posted to net platforms and sites by European users be filtered through tools that screen for copyright content.

If true this is pretty ironic considering it's only months after GDPR.

Politicians know nothing of this "irony" thing you speak of.
My own personal theory is that the GDPR was going through and the big players didn't fight too much knowing this was going to come through soon as well. They have the ability to comply, their smaller competitors don't, or at least will have to heavily invest in compliance.