Luxembourg faces seven rivals to host EBA after Brexit

Luxembourg faces seven competitors to be home to the European Banking Authority (EBA) when it leaves its London headquarters after the UK exits the European Union (EU), expected in March 2019.

The other cities seeking to host Europe's banking regulator are Brussels, Dublin, Frankfurt, Paris, Prague, Vienna and Warsaw, according to the European Council, which defines the EU's overall political direction and priorities.

The EBA's final destination must be agreed on by the EU's 27 nations remaining after the UK's withdrawal.

The European Commission, the EU's executive body, will give an assessment of the bids by September and make its final decision by November, the Council said.

Luxembourg Finance Minister Pierre Gramegna has said Luxembourg is willing to offer the EBA "state-of-the art office space, free of rent", with the building being "ideally located a few minutes' drive from the city centre, European institutions and the international airport".

Luxembourg's authorities are also offering a dedicated team that can stay in close contact with EBA staff during the construction phase "to make sure all of their specific needs are met". 

There are 19 cities vying to be home to the European Medicines Agency, which is responsible for the protection of public and animal health, the Council said.

The body is also headquartered in London.

They are Amsterdam, Athens, Barcelona, Bonn, Bratislava, Brussels, Bucharest, Copenhagen, Dublin, Helsinki, Lille, Milan, Porto, Sofia, Stockholm, Malta (only the country is listed), Vienna, Warsaw and Zagreb.

(Alistair Holloway, alistair.holloway@wort.lu, +352 49 93 739)