Earlier quoted context omitted.
Caching can be disabled https://support.google.com/webmasters/answer/79812?hl=en But per the wording "noarchive - Prevents Google from showing the Cached link for a page" - and it seems likes it is technically just avoiding showing the cached link.
But we are in the f up territory. Does EU law says anything about meta tags? If not, then unless explicitly allowed you can't copy it. On so many levels.
I think countries added workarounds for computer caching, allowing transient copies. But Google's "cache" or more of a short term archive, I'd guess they called it "cache" to semantically bypass the issue of it being an infringing copy.