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Brexit Fallout: Paris To House European Banking Authority

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Paris will be the new home of the relocating European Banking Authority, EBA ,which is required to move from London following the Brexit vote.

A vote among the remaining 27 EU countries took place in Brussels on Monday to decide the future location of the EBA, as well as the European Medicines Agency — which is went Amsterdam.

Eight countries — Austria, Belgium, the Czech Republic, France, Germany, Ireland, Luxembourg, and Poland — had submitted bids for the EU’s banking regulator.

The voting was tight, with Frankfurt and Dublin joining Paris in the second round, before Frankfurt was knocked out, leaving France and Ireland locking horns. The final round saw a draw at 13-13, with lots resulting in a win for Paris.

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Akin Akingbala is an international journalist based in Lagos, Nigeria. Aside being happily married, he has interests in music, sports and loves traveling.

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