Germany is set to make an official bid to take the European Banking Authority (EBA) and European Medicines Agency (EMA) away from Canary Wharf after Brexit.
The future of the two organisations, which together employ around 1,000 people in London, has been in doubt since Britain voted to leave the European Union in June last year.
According to Reuters , a German government spokesman has confirmed Germany will apply to host both after Brexit.
Steffen Seibert said: “Germany is throwing its hat into the ring for both agencies – with Bonn for the EMA and Frankfurt for the EBA.”
He added that it was unclear when other EU members would make a decision about the future of the regulators’ locations, but Berlin was hoping for a deal at the EU summit on Thursday, June 22.
However, a paper seen by Reuters in May said member states would be asked to decide on where the EMA and EBA will be relocated to by October 2017, and that no country would be permitted to host both of the regulators.
The Financial Times reported that countries had until July 31 to submit bids for the agencies, and the key criteria for a successful bud would be the “vital” need for “business continuity” and ensuring the agencies can be up and running by the time Britain leaves the EU.
Other locations including Milan and Paris have been suggested for the organisations, although no formal announcement has yet been made by the EU as to whether Britain will be stripped of them post-Brexit.
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