In my opinion, this is a ridiculous law that was either rushed, or dreamed up by people with little understanding of cookies and internet security.
Cookies are good
Cookies can help remember on-line shopping baskets when you come back to a website, they can allow you to sign into multiple website via one login (such as clicking the Facebook 'Like' button on a non-Facebook page) and result in targeted adverts (meaning that I don't need to be shown as many adverts).
If I come across any website asking if I will accept cookies, I will first off be annoyed that my internet browsing experience has been interrupted and then click accept.
Most modern browsers have an option to block cookies anyway, and if people aren't using modern enough browsers, they have larger security issues to worry about than Cookies.
I can't think of a single good reason for this law.
Related links:
I couldn't find any articles in favour of it.
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