A quick synopsis (so may contain stuff to quibble over) but the meat appears to be the action list (read the original document - link in article - for the rest):
Action 1: Adopt the data protection package
Action 2: Set up an overall agreement ensuring 'proper redress mechanisms' for EU citizens where data is passed to the US for law enforcement purposes.
Action 3: Suspend 'safe harbour' (covering personal data) until the US comply with 'EU highest standards'
Action 4: Suspend the 'TFTP' (Terrorist Finance Tracking Package) until a) Action 2 complete b) the EU have looked into it
Action 5: Worth quoting in full: "Protect the rule of law and the fundamental rights of EU citizens, with a particular focus on threads to the freedom of the press and professional confidentiality (including lawyer-client relationships) as well as enhanced protection for whistleblowers".
Action 6: Develop a european strategy for IT independence (that'll send cold shivers down the spine of certain US companies).
Action 7: Develop the EU as a reference player for a democratic and neutral governance of the internet (my translation: currently it's a US party, we want in on that).