Spain vies to host European Banking Authority after Brexit forces relocation

Spain will compete with countries including Austria to host the European Banking Authority (EBA) as the UK’s decision to depart from the EU forces it to seek a new home.

Spain formed a working group to weigh up the consequences of Brexit and to co-ordinate its bid to host the EBA and other EU agencies now based in the UK, acting deputy prime minister Soraya Saenz de Santamaria said in a news conference yesterday in Madrid.

The UK’s decision last week to abandon the 28-nation bloc has led to a scramble by other countries to offer a home for agencies such as the EBA and the European Medicines Agency which are based in London.