BREXIT WATCH (2): 8 Cities Bid For European Banking Authority

By Tara Oakes

     BRUSSELS (MNI) - Eight cities across the EU have launched bids to host the

European Banking Authority (EBA) when the agency leaves London after Brexit.

With around 200 staff, the prize is technically smaller than the European

Medicines Agency (EMA), but it is a key pillar of the bloc's financial

regulation setup.

     The European Commission is in the process of assessing the bids in terms of

six criteria, including accessibility; provision for children and spouses; and

assurance that the EBA could be up and running on the day Brexit hits --

currently scheduled for March 31, 2019.

     Geographical spread of agencies across member states is also nominally a

consideration for the rehousing of the EBA -- but the outlined bids below show a

varied approach to how that should be addressed.

     The ultimate winner will be chosen by the General Affairs Council (Art 50)

in November through a voting process with up to three rounds.

     This covers the remaining cities:

     cont

     PRAGUE:

     Key pitch: A less established centre means an 'immense opportunity'

     Building: Suggests the MAYHOUSE building in central Prague, currently under

construction and set to be finished by March 1, 2019.

     Rent: 9-months rent-free on a 12-year lease.

     Accessibility: One international airport and geographically central to

Europe.

     Families: Many international schools and the prestigious Charles

University; no European school. Celebrates recent figures showing the Czech

Republic 'has the lowest unemployment rate in the EU' for spouses seeking

employment.

     Business continuity: Promises the building will be available on time - and

offers assurances that even if there are unforeseen delays alternative premises

will be found. State-owned accommodation can be used to facilitate the

relocation process.

     Geographical spread: Already home to the European GNSS Agency (GSA) but

otherwise good geographical spread credentials. Currently outside the Eurozone

but believes this makes them a 'counterweight' to big Eurozone countries.

     Pitch quotes: 'Prague is both a symbol of European history as well as of

its future. The position in the heart of Europe predetermines our capital to

such a role.' Prime Minister Bohuslav Sobotka pulls the geographical spread

card.

     VIENNA:

     Key pitch: A crossroads between eastern and western Europe

     Building: Singled out a building set for completion on March 31, 2019,

which can be customizable.

     Rent: 25 years rent-free.

     Accessibility: One international airport, high-speed rail links across

Europe.

     Families: 20 bilingual free public schools, number of international

schools. No European school. 200,000 jobs created since 2011, 90% of which have

gone to foreigners. Employment office will roll out specific programme for EBA

spouses and partners.

     Business continuity: Will establish a Task Force to get the project off the

ground. Housing is affordable and a pool of qualified staff is available.

     Geographical spread: Good - Austria houses only one small EU agency, the

European Union Agency for Fundamental Rights (FRA). Vienna believe that their

location between eastern and western Europe is a winning factor.

     Also bidding for the EMA.

     WARSAW:

     Key pitch: Having the EBA in a capital that isn't a home country for the EU

banking sector ensures 'fair balance'

     Building: The Kaskada building is already completed and will be available

from December 2018. Rent: Poland will pay 50% of the rent and service charges

for 10 years.

     Accessibility: Two international airports. Families: Many international

schools. A European school is currently being set up and should be accredited by

September 2017. Employment opportunities available in the Business Services

Sector, primarily for U.S. firms dealing with Germany.

     Business continuity: The building is already in place and residential

property is available and cheap. Geographical spread: Excellent credentials -

Poland hosts the European Border and Coast Guard Agency (Frontex) but location

of another agency there would help the east-west balance. The bid plays up the

need for Eurozone/non-Eurozone balance 'to ensure effective and consistent

prudential regulation and supervision across the whole European banking sector'.

     Also bidding for the EMA

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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