Regions & Cities: The EU Agencies Race
EUobserver's 2017 Regions & Cities magazine takes a closer look at EU agencies and the benefits for cities and regions to host them. The UK leaving the EU has prompted a scramble for the European Medicines Agency and the European Banking Authority among most of the remaining member states. But what makes a city competitive? Which cities stand a good chance to become the new hosts? And what do EU agencies bring to the local economy?
EUobserver's 2017 Regions & Cities magazine takes a closer look at EU agencies and the benefits for cities and regions to host them. The UK leaving the EU has prompted a scramble for the European Medicines Agency and the European Banking Authority among most of the remaining member states. But what makes a city competitive? Which cities stand a good chance to become the new hosts? And what do EU agencies bring to the local economy?
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were set up, including the European Banking<br />
Authority (EBA). <strong>The</strong> three were divided amongst<br />
the big three <strong>EU</strong> member states: Germany,<br />
France, and the UK. <strong>The</strong> EBA was to succeed<br />
the already existing London-based Committee of<br />
European Banking Supervisors.<br />
Initially, the <strong>EU</strong> parliament wanted the EBA to be<br />
located in Germany, near the Frankfurt-based<br />
European Central Bank. But then UK finance<br />
minister George Osborne managed to convince<br />
his peers and achieved, in the words of the UK<br />
newspaper, the Telegraph, an "<strong>EU</strong> victory" by<br />
keeping the EBA in London.<br />
But five years later, in 2016, British citizens voted<br />
to leave the <strong>EU</strong>, leaving the EBA up for grabs<br />
again.<br />
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Photo: oaPaat<br />
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REGIONS & CITIES OCTOBER 2017— 17
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