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EU picks Paris as new host for EBA after Brexit, sources say
November 20, 2017 / 6:21 PM / 24 days ago

EU picks Paris as new host for EBA after Brexit, sources say

BRUSSELS (Reuters) - The European Union has picked Paris as the new host for its London-based banking authority after Britain leaves the bloc, in a second drawing of lots in just one evening, following three rounds of voting that failed to produce a winner.

European Union's chief Brexit negotiator Michel Barnier arrives at a conference on the "The future of the EU" at the Centre for European Reform in Brussels, Belgium November 20, 2017. REUTERS/Yves Herman

Paris tied with Dublin in the third vote and the Estonian chairman of the meeting then picked the winner according to a pre-agreed procedure.

Frankfurt, a leading EU financing center that is home to the European Central Bank, lost out in the race at an earlier stage.

Earlier on Monday, a series of EU votes to pick a new site for the European Medicines Agency, also now based in London, also ended in a tie before Amsterdam won in drawing of lots.

Reporting by Gabriela Baczynska, Alastair Macdonald, Peter Maushagen; Editing by Alastair Macdonald

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