Another option is a blanket law about internet traffic that states no tracking can be made at all unless given express permission.
How do I install a VPN on my SmartTV exactly? How do I make it actually work, even using VPN-on-a-router, given the importance CDNs have and how they use the location of your DNS resolver to attempt to give you nearest copies?
How do I explain to the hypothetical 68 yo grandmother why she has to disable the VPN to use (Australian geoblocked catch-up TV Service) iView and then reenable it to browse, but she won't be able to buy Kindle books when it is enabled unless she had it enabled when she first setup an Amazon account and her credit card also has a US address, and...
How is a user supposed to move the keys from their mobile device to their PC when most users can't even get photos off their phones.
And you would locate the VPN server inside the same country, unless those services are blocking by ISP or similar.
Also, how do you stop people tracking you by IP? Every web server's log does this by default. How do you allow sessions even? It's not easy to define tracking so it's different from essential operation.
As a non-European who visits the BBC, my impression is that it's even less useful than that (you can get that kind of annoying prompt just by setting cookie permissions on your browser to 'always ask'!). Instead of a prompt, you get an intrusive notice that they are setting cookies, and that your remedy if you don't want them to do it is to go away.