The problems are huge, not least because the EU will implement an automated content filter, which means that memes will die, but also, if you have the money to spam the system with requests, you can basically kill any content you want with the actual content holder only having a marginal chance of navigating EU burocracy in order to regain ownership of their rights.

There goes free speech and innovation.

 

Source: COM_2016_0593_FIN.ENG.xhtml.1_EN_ACT_part1_v5.docx