Cities race to get two tempting agencies
7 October, 2017
It's a side effect of Brexit, two institutions hosted by Britain will move out when it leaves the EU. A competition to relocate the European Medicines Agency (EMA) and the European Banking Authority (EBA) entered final phase last week with many EU nations still eager to claim one of them, bringing top talent and money to the local economy, and prestige to the nation.
Eight European cities seek to host the banking authority and 19 want to be home of the medicines agency. Some cities - like Brussels, Warsaw, Vienna and Dublin - are making pitches for both in order to increase their chances of landing one. No city will get both.
The Commission published a non-binding assessment on the candidates and a final decision is set for mid-November at a Brussels meeting of EU nations.
The EMA is responsible for the scientific evaluation, supervision and safety monitoring of medicines in the EU. It has around 890 staff and hosts more than 500 scientific meetings per year, attracting about 36,000 experts. The EBA, with around 180 staff, monitors the regulation and supervision of the EU's banking sector.
The cities offer lavish benefits to capture such prizes – Frankfurt offers space in the Westhafen Tower, a new circular skyscraper, for the banking agency, while Prague is offering to pay the banking agency's five-year rent. Milan wants the medicines agency in a 31-storey skyscraper, the iconic Pirelli building, while Athens offered to put it in the Keranis Building – a former cigarette factory.