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Free AccessBRUSSELS WATCH: 23 Cities Bidding For EMA, EBA Post-Brexit -EU
By Tara Oakes
BRUSSELS (MNI) - A total 23 cities from across the European Union are
bidding to host one or both of the agencies destined to leave the UK after
Brexit.
Of that, 19 cities have thrown their hat into the ring to be the new home
of the European Medicines Agency (EMA) and 8 for the European Banking Authority
(EBA).
Brussels, Dublin, Frankfurt, Paris, Prague, Luxembourg, Vienna and Warsaw
all sent in applications to host the EBA before the deadline passed at midnight
on Monday.
Luxembourg have touted their credentials as a potential EBA host due to
experience of hosting agencies -- as well as tabling an offer to house the EBA
rent-free.
A Luxembourg official on Tuesday could not confirm how long the offer of
free rent would stand for.
"I think sorting out the precise aspects of all that will be something that
has to come up later in the discussion," he said.
The official added that Luxembourg had the advantage of an already-existing
financial "ecosystem" with a large pool of potential future employees.
"We are not talking about starting from scratch here," the official added,
stressing that the agency is already operational and could continue to be so
when Brexit hits.
Dublin, Vienna, Warsaw and Brussels are also bidding to be home of the
larger EMA, which will be awarded first in the process. No country can host both
agency as per the agreement reached at the EU Council in June.
Athens, Barcelona, Bonn, Bratislava, Bucharest, Copenhagen, Helsinki,
Lille, Milan, Porto, Sofia, Stockholm, Malta and Zagreb are also bidding for the
EMA.
The European Commission will now assess the applications according to six
criteria and present their deliberations on September 30. The General Affairs
Council will then discuss the EC's findings and vote on the new homes for the
agencies in November.
--MNI Brussels Bureau; +44 203-865-3851; email: tara.oakes@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$B$$$,M$E$$$,MC$$$$,MI$$$$,MGB$$$]
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.