What you're missing is:

1. Amazon, Google, VMWare, and all other US-based companies have to comply too.
2. Microsoft and other companies don't just allow the US government access. A warrant, issued by a court, has to be submitted.

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>http://www.engadget.com/2011/06/30/microsoft-european-cloud-data-may-not-be-immune-to-the-patriot/