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Germany will apply to host Europe's EMA, EBA regulators after Brexit
June 12, 2017 / 10:43 AM / 3 months ago

Germany will apply to host Europe's EMA, EBA regulators after Brexit

BERLIN, June 12 (Reuters) - Germany will apply to host the London-based regulators European Medicines Agency (EMA) and the European Banking Authority (EBA) following Britain’s departure from the European Union, a government spokesman said on Monday.

Rival European cities face a multi-month fight to host the two European regulators that will have to leave post-Brexit London. EU officials have set out procedures for determining the new locations for the agencies via a stepped voting system.

German government spokesman Steffen Seibert said it was unclear when the remaining 27 EU members would decide on a joint position on the regulators, but Berlin was aiming for a deal at the EU summit later this month.

According to an EU paper, member states will be asked to decide on new homes for EMA and EBA by October 2017.

The voting process will start with a verdict on the EMA, the larger of the two bodies, and the country selected for this body will not be able to host the banking watchdog as well.

Countries have until July 31 to submit bids for both agencies and the voting session will take place on the sidelines of a meeting of European affairs ministers in October, according the 18-page May 19 paper seen by Reuters. (Reporting by Michael Nienaber; Editing by Andrea Shalal)

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