It's also indirectly compatible with all current and future versions of the GPL because you can also relicense to the CeCILL licence, and that licence allows relicensing to any version of the GPL.
It's a pity it took so long for direct GPLv3 compatibility to be added, and it would be better if the EU would simply (and clearly) endorse the GPL, but this licence's relicensing clause makes it one of the least harmful in terms of licence incompatibility and generally making licensing more complex.
Plus, it does address at least one real problem: governments being required to use licences in their national language(s). In this sense, it might even reduce licence proliferation because this one licence in all EU languages means that national governments have no necessity to write their own licences. (Or it might have the opposite effect if national governments think "Oh, an own free software licence, what a good idea, let's write one too".)
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