for me as a European - and especially German - cardholder and -use, this is unbelievable. Banks and merchants as well as the cardholders want to have a trustful and secure infrastructure for card payments. And this is impossible with Chip-and-signature. Noone can proof whether or not the give signature (on card and on terminal) is the correct one, really belonging to the account holder. As long all necessary card details are left on the magnetic stripe, it is still easy to access them. Only in case posession of card PLUS knowing the PIN is combined, there is a minimal proof of correctness.