The article seems to conflate cloud services with merely
storing data. Of course that's part of any cloud stack, but to the average HN reader it is evident that cloud services are much more than that, such as running software and
transforming data.
I think this might be a reflection of a misunderstanding that also happens on a higher level in European politics. Cloud services are much more than just "computers that store data" and the political implications of data sovereignty or what have you.
Cloud services are insanely complex systems built on the latest advances in areas like operating systems, networking, hardware, etc.
You don't get there with political statements of good-will, even when they're backed by what looks like a non-committal, lukewarm coalition of private companies. You don't stumble upon it by just saying "Ha! We need a Europe response to cloud services!"
You get there by being obssessive and single-minded about the problem, employing all your energy and focus on the task at hand, most likely fueled by the ambition of a lucrative or economically strategic incentive.
It saddens me as a European that the latter is what Europe seems to lack sometimes, and this initiative doesn't give me any hope for a change of course.