Safeguarding European Fundamental Rights or Creating a Patchwork of National Data Protection?

On Tuesday, the Grand Chamber of the Court of Justice of the European Union declared the Commission’s US Safe Harbour Decision invalid. The Court’s ruling in Case C-362/14 of the Austrian Internet activist Maximillian Schrems v the Irish Data Protection Commissioner is a milestone in the protection of European fundamental rights, but it also preserves space for different national supervisory standards and national discretion on whether data may actually be transferred. Is the ruling opening the way for a patchwork of national data protection? How does this ruling influence the TTIP negotiations?