Milan has 18 rival bids to land EMA

Posted August 02, 2017

The European Banking Authority and the EMA, both based in Canary Wharf in London, employ just over 1,000 staff between them, and the agencies will be relocated from the United Kingdom after Brexit.

The banking and medicines agencies are seen as the first spoils of Brexit by the 27 remaining members of the EU.

It can also be found on the list Amsterdam, Athens, Barcelona, Bratislava, Bucharest, Copenhagen, Helsinki, Milan, Porto, Sofia, Stockholm, Malta and Zagreb.

Speaking today, Minister Harris said, "The Government is satisfied that the Irish offer to host the EMA fully meets all the stated criteria and we are fully committed to ensuring that the EMA can continue to deliver, without interruption, an excellent service to citizens and industry in a post-Brexit Europe".

Six countries - Cyprus, Estonia, Hungary, Latvia, Lithuania, and Slovenia - have not presented a candidate.

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"Maximising staff retention and continuing to attract the best expertise to the EMA are vital to the future of the agency".

Each of the 27 member states have the same number of votes.

Previously, major European Union powers have been divided over which country should take over London's role as the main middleman for financial deals carried out in euros. A final decision on the relocations will be taken at a ministerial meeting in November.

Members states, which will nearly all have to take a decision while having at least one candidate, said the process that they set up will "be fair and transparent".

"Luxembourg has not positioned itself as vultures circling round the Tower of London waiting for all those jobs to fly out our way", Luxembourg's ambassador George Friden told reporters in Brussels.

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Eight cities have applied for EBA, which employs 160 people and writes and coordinates banking rules for the bloc.

It will also look at whether a country already hosts other European Union agencies to ensure they are not monopolised.

Vienna, Warsaw, Dublin and Brussels submitted applications to host both agencies.

But the ambassador said on Tuesday that, with a selection process now agreed for the relocation of the EBA, "it would not be appropriate to unleash a massive legal debate".

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