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Spain offers to host EBA

image012Spain is offering to host the headquarters of the European Union’s European Banking Authority. The headquarters is currently located in London and EU will shift it from there following Britain’s decision to leave EU. Paris and Frankfurt are in the reckoning to set up the headquarters for the bank but no decision has been taken so far. Spain has set up a working group to drive its bid for the EBA and for the London-based European Medicines Agency. Spain would seek to lure international banks based in London which are looking to move their operations to remain inside the European Union. An EBA spokesperson had said the European Union would have to decide on relocation and in the meantime the agency would continue to operate in London.

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