Vienna and Frankfurt emerge as the frontrunners to host the banking regulator ahead of a secret ballot at the European council on Monday.
19.11.2017
Luxembourg
is facing dwindling odds of becoming the new seat of Europe's banking
regulator, as Vienna and Frankfurt emerge as the frontrunners ahead
of a decision on Monday.
Luxembourg
is among eight cities vying to host the European Banking Authority
(EBA), which must relocate from London after Britain leaves the
European Union.
According
to The Sunday Times, Vienna has "the edge" with a relocation to
the Austrian capital viewed as a symbolic prize for the continent's "eastern fringe".
However,
the paper reported Germany was also "confident" it would win-out with a relocation to
Frankfurt.
The
vote at a meeting of the European council on Monday will decide the agency's
future location through a secret ballot of member states.
Luxembourg
had offered to house the EBA rent free in a 4,200
square metre building on the Route d'Arlon.
Betting
firm Ladbrokes put Luxembourg's odds of hosting the banking
regulator at 25/1 on Sunday – joint bottom with Brussels.
Frankfurt
come out on top on the betting website, followed by Vienna, then Dublin, Paris, Prague and
Warsaw.
The
fate of the European Medicines Agency will also be decided on Monday,
with a further 19 European cities competing to become its new
seat.