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Germany will apply to host Europe's EMA, EBA regulators after Brexit
June 12, 2017 / 12:33 PM / 5 months ago

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

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

The headquarters of the European Medicines Agency (EMA), is seen in London, Britain, April 25, 2017. REUTERS/Hannah McKay

Rival European cities face a multi-month fight to host the two regulators that will have to leave post-Brexit London.

“Germany is throwing its hat into the ring for both agencies - with Bonn for the European Medicines Agency EMA and with Frankfurt for the European Banking Authority EBA,” government spokesman Steffen Seibert told reporters.

Seibert added it was still 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 on June 22.

According to an EU paper seen by Reuters last month, member states will be asked to decide on new homes for the 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 and Tom Heneghan

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