Published: Thu, November 23, 2017
Money | By Armando Alvarado

EU picks Paris as new host for European Banking Authority after Brexit

EU picks Paris as new host for European Banking Authority after Brexit

The Council of the European Union has announced that Amsterdam will become the new host for the European Medicines Agency (EMA). The Paris-bound European Banking Authority, which has around 180 staff members, monitors the regulation and supervision of Europe's banking sector. That left Estonia, which now holds the rotating European Union presidency, to break the tie with a draw from the bowl.

"It was a big transparent bowl with two small lots", he told reporters eager for details of the novelty. The EU's current president Estonia subsequently drew lots to decide the victor. One country abstained in the vote. He rejected, however, talk of "betrayal" among any allies who had promised Milan support before the secret ballot. "What a mockery", Italian Prime Minister Paolo Gentiloni said on Twitter.

Dutch Foreign Minister Halbe Zijlstra was elated.

The outcome was welcomed by European pharmaceuticals bodies.

Steve Bates, CEO of the UK BioIndustry Association, noted that London's loss is Amsterdam's gain.

She said: "This is best achieved by ensuring an orderly transition".

The EMA coordinates evaluation of the safety and effectiveness of treatments by national agencies before they can be used across the EU.

Wouter Bos, a Dutch government appointed "ambassador" for the EMA bid, said: "Amsterdam scores great when it comes to the new building, the accessibility and everything that city has to offer for the employees of the EMA". Slovak capital Bratislava, the leading contender in ex-communist eastern Europe, came in fourth in the first round of voting.

Uber isn't saying how many Canadians were affected by year old hack
Khosrowshahi took over for Kalanick in August. "There is no goodwill and trust in Uber as a brand at this point". Effective today, two of the individuals who led the response to this incident are no longer with the company.

Ireland also failed to make it into the top five location choices when the EMA combined the staff retention figures with the prospect of business continuity for each of the 19 candidate host cities. Three votes went to the city of first choice, two to the second, and one to the third.

The EMA - Europe's equivalent to the Food and Drug Administration - has been based in London since its inception in 1995 and now employs more than 900 people.

Maasikas called the contest "a sad reminder of the concrete consequences of Brexit".

Germany's banking centre, Frankfurt, lost out early in the race, despite being an early favourite to win the bid.

Paris tied with Dublin in the third vote and the Estonian chairman of the meeting then picked the victor out of a bowl.

This development prompted the Estonian minister who was chairing the meeting to make an apparently unprecedented move and draw lots to determine the victor, resulting in the victory for the Dutch capital.

"Whatever the outcome, the real victor of today's vote is EU27".

Like this: