Paris has been awarded new seat of EU banking supervision (EBA). The French application made a decision against Irish capital Dublin after a stalemate in third round. This was shared by diplomats at meeting of EU Ministers for Europe in Brussels. Previously, Amsterdam had already received contract for European Medicines Agency (EMA). The authorities have to leave ir former seat in London because of Brexit.

As a result, both applications in Germany remained unsuccessful. Germany had applied for banking supervision and Bonn for pharmaceutical agency with Frankfurt am Main.

Frankfurt had only four votes in second round of voting. In third round, last two remaining candidates were Dublin and London on 13 votes each, so lot had to decide. A total of eight cities had applied for seat of banking supervision. The European Banking Authority was founded on 1 January 2011. The main task is to create uniform rules for all banks in EU banking market. The authority employs around 170 employees.

Amsterdam also went through a procedure against Milan. The EU medicines Agency is responsible for scientifically assessing, supervising and guaranteeing safety of medicinal products in EU. It has about 890 employees and holds more than 500 scientific conferences each year. Bonn already made a difference in first round. A total of 19 cities had submitted applications.

Two EU authorities in Germany continue to

Europe Minister Michael Roth (SPD), who voted for Germany in Brussels, said to election that federal government had presented "two very good proposals" with Bonn and Frankfurt am Main. In end, however, it is only important that suitable candidates win and that agencies can continue ir work immediately and without restriction at new location.

Two EU institutions are already headquartered in Germany with European Aviation Safety Agency (EASA) in Cologne and European insurance and Occupational Pensions Supervisory Authority (EIOPA) in Frankfurt. The seats of EU authorities are considered to be coveted, as cities can count on high additional income through hundreds of conferences and events each year. In London, two agencies lasted for about 39,000 additional hotel nights per year.

Date Of Update: 21 November 2017, 12:02