How DORA Made Sovereignty a Bank Problem
https://philippdubach.com/posts/dora-critical-cloud-providers-sovereignty/
DORA named 19 Critical ICT Providers on 18 November 2025 including AWS, Microsoft, Google Cloud, IBM, and Bloomberg; each now faces direct EU oversight with fines up to 1% of daily global turnover per day for six months.
[..]
The funding asymmetry runs two orders of magnitude (roughly €1.4B of EU sovereignty policy against €20B+ of hyperscaler EU sovereign-cloud capex),
