Much like the software patent issue, we again have a situation where the European Parliament (those who are directly elected by the public) is against the proposal, while the commission and some national governments are pushing it.
With your support (and at least your signature), there are chances that this data retention directive - like the proposed software patent directive - can be turned down. Please take your time and sign, thanks.
Please also consider supporting the EDRi. They recently announced that they're short of funding.