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BREXIT: Ireland proposes hosting EBA

Ireland would make an ideal home for the European Banking Authority (EBA) when it leaves its London headquarters, the Irish government has said.27 Oct 2016

Ireland has made a public declaration of interest in becoming the new location for the EBA's offices, it said in a statement.

"As part of the negotiations associated with the UK’s decision to withdraw from the EU it will be necessary for the European Banking Authority to relocate to an EU member state from its current location in London," the Irish government said. 

While several other EU member states are interested in hosting the EBA, "Ireland, with its significant financial services sector and efficient transport links to other European capitals, is ideally suited for the Authority’s relocation. Ireland has a positive track record with hosting international organisation and has proven to be an attractive location for international staff of these international organisations", it said.

Minister for finance Michael Noonan said: "While the UK continues to be a full member of the EU until the negotiations for their exit have been completed, preparations must be made for eventualities such as the relocation of certain European agencies such as the EBA. Ireland has a significant financial services sector, efficient transport links to other European capitals and the capacity to absorb the EBA’s re-location to Ireland. As a country with experience in providing links to banks and companies in the UK market, Ireland provides an ideal new home for the staff of the EBA."