This is a leaked draft impact assessment(PDF alert), you can read more about it here: European Copyright Leak Exposes Plans to Force the Internet to Subsidize Publishers
This is what Julia Reda (MEP) says about it: Commissioner Oettinger is about to turn EU copyright reform into another ACTA:
This is not a copyright fit for the digital age. It’s a copyright that tries to protect the big players of the past from the future.
Europe’s publishing, film and music industries have clearly found that influencing Commissioner Oettinger to write laws is easier and more lucrative than adapting to progress and competing fairly.