European Banking Authority to move to Paris or Frankfurt
Well-placed EU official says that London os no longer suitable for the organisation
- Britons voted in favour of leaving the EU last Thursday with a 52% majority in historic referendum
The European Banking Authority plans to move to Paris or Frankfurt after the vote of the British decision to leave the European Union (EU).
The vote to leave, known as Brexit, won by 52% of the votes, which has led the European Banking Authority to doubt its position in London. A senior EU official has confirmed the news.
The EU is already making all the necessary preparations to carry out the move, although it still has not been decided where exactly the fate of the EBA lies. Paris and Frankfurt head the race that seems to have begun to host the regulatory body, but there are also other cities competing for it.
