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.

Austria’s finance minister Hans Joerg Schelling wrote to the EBA on Tuesday offering to host it in Vienna while Germany’s Bavaria government wants Munich to be the agency’s future headquarters, Sueddeutsche Zeitung reported earlier this week.

“Spain is in a very optimal situation to bid,” for the EBA, said Ms Saenz de Santamaria in a televised press conference.

“We are aware that other countries are also proposing themselves,” she said.

Any decisions regarding its possible relocation will have to be negotiated at EU level following a proposal from the EU Commission, the EBA’s spokeswoman Franca Congiu said on June 24.

The EBA was set up in 2011, and superseded the Committee of European Banking Supervisors.

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