Yahoo Finance Amsterdam and Paris snatch London's EU agencies after nail-biting votes end in drawing lots
Amsterdam and Paris have been chosen as the new homes of London’s two EU agencies after both dramatic votes in Brussels had to be decided by drawing lots.
The Dutch and French capitals were ultimately selected to host the European Medicines Agency and European Banking Authority by chance after draws in the final rounds of voting.
Milan and Dublin, the two other finalists in the respective races, both lost out cruelly at the death.
The relocations are the clearest physical sign yet of Brexit, with the agencies combined employing around 1,000 people in London.
The EMA's move to Amsterdam is likely to go down well with its 900 staff and pharmaceutical firms, who hoped a location near London would emerge victorious in order to maximise staff retention and thus minimise delays to medicine approvals and any risks to patient health.
In the EMA voting, 15 candidate cities were eliminated in total, including the widely-tipped Slovakian capital of Bratislava. Slovakia abstained from the final round, allowing the nail-biting tie to happen.
Meanwhile eight cities bid to host the EBA, with bookies’ favourites Frankfurt and Vienna eliminated in earlier rounds of EBA voting. Paris emerged as the winner, in a move which will be seen as a victory for French president Emmanuel Macron.
Candidate cities used an array of tactics to entice staff from the two bodies, including promises of support and good schooling. Ultimate EMA winner Amsterdam, for example, provided assurance that “we also have a very stylish queen and enjoy fish and chips”.
Steve Bates, chief executive of Britain’s BioIndustry Association, commented: “London’s loss is Amsterdam’s gain. We must now ensure Brexit does not disrupt the safe supply of vital medicines to tens of millions of families in the EU 27 and the UK.”
The EBA sets the rules for Europe’s financial firms, including capital requirements and processes for sorting out failed EU banks.
Pharmaceutical and financial firms are pushing the Government for progress on Brexit talks as concerns grow that a lack of clarity by Christmas could lead to further relocation plans.
