UK’s Brexit cast-offs: Paris to take European Banking Authority after Britain’s EU divorce


The European Banking Authority in One Canada Square will now move to ParisGetty Perceptions

The European Banking Authority in One Canada Square will now move to Paris

A puzzling day of discussions and voting saw the French capital tied with Dublin at the end of the third spherical of voting, with no decisive winner picked by EU states.

The Estonian chairperson of the meeting then drew lots to pick Paris as the winning bid.

Germany’s banking heart, Frankfurt, lost out early in the race, despite being an early favourite to win the bid.

It had theretofore been tipped to poach finance jobs from London after Brexit, as fortunately as the EBA, given that it is the home of the European Central Bank, but these prophecies did not come true.

Prague, the capital of Czechia, had also been a ideal to win the bid after the European Medicines Agency went to a Western European see.

It was thought the EBA would then go to an Eastern European nation to keep the weight, however Paris was chosen instead.

The EBA sets rules and regulations for banking, inured to by the European Central Bank to carry out tests of the banking sector within the European Seam.

It has been located in London since its creation in 2011, but will now relocate across the trench before March 2019, when Britain is set to quit the bloc.

The European Medicines Agency which is set to move to Amsterdam after BrexitGetty Portraits

The European Medicines Agency which is set to move to Amsterdam after Brexit

Amsterdam was decided as the new headquarters of the EMA as it also plans to relocate from London.

It tied with Milan during the irrevocable round of voting by EU Ministers, following which lots were exhausted to choose the new host city.

The Netherlands capital will become rest-home to the EU medicine regulator following Britain’s departure from the bloc in Tread 2019.

The EMA itself welcomed the decision following fears many of its leading cane members would have quit had the EU chosen a less attractive hotelier city.

Pharmaceuticals coteries also hailed the move, having also feared the EU could judge a drab location in an Eastern European ex-Communist state, making urge a exercise for the body less attractive to Europe’s best and brightest.

It was a narrow overcoming for Amsterdam, however, as Milan almost won outright in the second round of suffrage. Just two more votes would have stopped the contest there.

Notwithstanding how the run-off between Amsterdam and Milan, after Copenhagen was knocked out, saw a 13-13 formulate c arrange that had to be decided by lucky dip.

Bratislava, the capital of Slovakia, came fourth in the attest to.

Despite fierce competition for the privilege of hosting the institutions, European bossmans are keen to avoid tough disputes and show unity as Brexit put in jeopardies to fracture the bloc.

EU Council president Donald Tusk, who chaired the top, tweeted: “Whatever the outcome, the real winner of today’s vote is EU27. Organised and take off a return ready for Brexit.”

However Italy’s EU affairs minister Sandro Gozi intended the choice had left a “bitter taste in the mouth” for the team backing Milan to entertain the EMA.

After Milan won every previous round, he said: “It’s like spending a final on penalties.”

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