Saturday

17th Nov 2018

EU sets out criteria for relocating UK agencies

  • London will wave goodbye to the EU banking and medicines regulator in 2019 (Photo: Rob Bye)

EU countries bidding to host the bloc’s banking and drugs regulators after Brexit will have to submit their entries by 31 July.

According to an 18-page document circulated among member states earlier this week, a decision will be made by October on which city should host the now London-based European Medicines Agency (EMA) and the European Banking Authority (EBA).

Read and decide

Join EUobserver today

Support quality EU news

Get instant access to all articles — and 18 year's of archives. 30 days free trial.

... or join as a group

The document, seen by the Financial Times and Bloomberg, was co-authored by European Council president Donald Tusk and European Commission president Jean-Claude Juncker.

It says the relocated agencies must be functional by the time the UK leaves the EU in March 2019.

The criteria say that no country can host both agencies and that cities will have to be able to provide hotel space for an average 30,000 visitors a year for the medicines agency and 9,000 people for the banking regulator.

The new host city must have adequate international schooling for the staff’s children and needs to provide space for the drug agency’s archive of 34,000 boxes.

The two agencies employ more than 1,000 staff.

The criteria also cites a 2003 principle to place new agencies in new member states as something to be taken into account during the decision making, but the document points out that finding a new home for the two agencies means relocation rather than setting up a new agency.

Currently, no EU body is based in Bulgaria, Romania, Croatia, Cyprus, or Slovakia.

More than 20 EU countries are vying for one or both of the agencies.

The Commission will assess applications by mid-September and EU ministers will decide in October.

There will be rounds of voting until two finalists emerge and the winner will need a majority of votes from fellow EU members.

The relocation will come with sizeable costs that the EU expects Britain to pay for.

The EMA will have to pay rent of €16 million a year for its London headquarters until 2039 based on a recently signed lease without the possibility to get out of the agreement before that.

The EBA’s rent runs until 2020, but the agency can leave early if it pays a fee of around €3 million.

Focus

Crowded race to win EU medicines agency

As cities line up to take over the European Medicines Agency some fear a kerfuffle that could destabilise the agency's work and slow down the pace of approving new medicines.

Barnier unveils EU's Brexit goals

Barnier to set out EU negotiating positions on citizens' rights, divorce costs, and Ireland in Brexit talks, amid a prickly atmosphere between London and Brussels.

EUobserved

Scramble for UK agencies paves way for Trumpian claims

The Spanish health minister this week bragged that Barcelona was “the best city”, had “the best building”, and “the best infrastructure” to host the EU's medicines agency post-Brexit.

News in Brief

  1. US warns EU banks and firms against trading with Iran
  2. Merkel urged Romania not to move embassy to Jerusalem
  3. Protesters call for Czech leader to step down
  4. Former German chancellor labelled 'enemy' of Ukraine
  5. French lead opposition to Brexit deal on fisheries
  6. Private accounts of Danske Bank employees investigated
  7. UK's May defends Brexit deal to MPs, after ministers resign
  8. Brexit MP calls for 'no confidence' vote on May

Stakeholders' Highlights

  1. NORDIC COUNCIL OF MINISTERSTheresa May: “We will not be turning our backs on the Nordic region”
  2. International Partnership for Human RightsOpen letter to Emmanuel Macron ahead of Uzbek president's visit
  3. International Partnership for Human RightsRaising key human rights concerns during visit of Turkmenistan's foreign minister
  4. NORDIC COUNCIL OF MINISTERSState of the Nordic Region presented in Brussels
  5. NORDIC COUNCIL OF MINISTERSThe vital bioeconomy. New issue of “Sustainable Growth the Nordic Way” out now
  6. NORDIC COUNCIL OF MINISTERSThe Nordic gender effect goes international
  7. NORDIC COUNCIL OF MINISTERSPaula Lehtomaki from Finland elected as the Council's first female Secretary General
  8. NORDIC COUNCIL OF MINISTERSNordic design sets the stage at COP24, running a competition for sustainable chairs.
  9. Counter BalanceIn Kenya, a motorway funded by the European Investment Bank runs over roadside dwellers
  10. ACCACompany Law Package: Making the Best of Digital and Cross Border Mobility,
  11. International Partnership for Human RightsCivil Society Worried About Shortcomings in EU-Kyrgyzstan Human Rights Dialogue
  12. UNESDAThe European Soft Drinks Industry Supports over 1.7 Million Jobs

Latest News

  1. Brexit dominates EU affairs This WEEK
  2. How the EU commission got tunnel vision on self-driving cars
  3. No-confidence calls against May put Brexit deal in doubt
  4. Key points of the Brexit deal (if it ever comes into effect)
  5. Romania heaps scorn on 'revolting' EU criticism
  6. US steps in to clean up Cyprus
  7. 'Decisive progress' on Brexit as British cabinet backs deal
  8. Asylum for Macedonia's ex-PM puts Orban on spot

Join EUobserver

Support quality EU news

Join us