Brexit effect: London loses EU agencies to Amsterdam and Paris

London is losing the EU agencies in one of the first most obvious signs of Brexit even as the UK gears up to quit the EU. Amsterdam will be the new venue for the European Medicines Agency and Paris for the European Banking Authority.

The two EU cities won the EU agencies bid after tie-breakers. The winner was chosen by drawing lots from a large bowl resembling goldfish-style. Amsterdam defeated Milan in the draw of lots. This was after dead heat resulted from the three rounds of voting based on Eurovision style.

Paris meanwhile defeated Dublin to take over as the new venue for European Banking Authority. It won the finals after Frankfurt was eliminated in the second round, as quoted by the Guardian.

The 27 European affairs ministers of the EU took less than 270 minutes to decide the new venue for European Medicines Agency. This EU agency employs more than 900 people in London’s Canary Wharf. Similarly, the decision for relocating European Banking Authority to Paris was made in just over 60 minutes. It employs around 150 people.

Amsterdam won the competition to beat 18 EU cities. This includes outsiders such as Sofia and Bucharest to fancy contenders such as Bratislava and Copenhagen. 8 cities were in the fray for the European Banking Authority. It was set up in 2011 to have stringent regime after the financial crisis.

The contest also evoked the first public discontent amongst the 27 EU nations over Brexit. This was as no eastern nation went ahead beyond the first rounds. Tomáš Drucker the Minister from Slovakia said that he abstained from the final votes on European Medicines Agency. This was due to the fact that no nations from his region succeeded in the opening rounds.

If you are looking to Study, Work, Visit, Invest or Migrate to the UK, contact Y-Axis, the world’s most trusted Immigration & Visa Consultant.