Ireland Applies for Hosting 2 UK-Based EU Agencies After Brexit

Marco Green
August 1, 2017

European states have until midnight on Monday to bid for two major United Kingdom -based EU agencies which will be relocated amid Britain's departure from the European Union.

The bloc is seeking to relocate the European Medicines Agency and the European Banking Authority, as the two agencies can not remain in Britain after the country's exit from the EU in less than 2 years.

As an EU organisation, the EMA has been forced with moving its office from London as from 2019 it will no longer be based within the union, and Dublin hopes it has what it takes to convince the organisation to move here.

Michael D'Arcy, Minister of State with Responsibility for Financial Services, confirmed on Monday that the Department of Finance has formally applied to the European Commission to move the authority to Dublin after Brexit.

However, Dublin was believed to be low in this list - joining the likes of Vienna and Barcelona - as having weaknesses, but ahead of cities including Rome and Madrid that were ranked lowest.

They are all competing to attract the agencies' highly skilled employees, their families and the business that comes with them. "This includes 40,000 hotel stays for visitors each year", the BBC article noted. Their relocation is a direct outcome of the United Kingdom's decision to leave the European Union, as notified to the European Council on 29 March 2017.

The U.K.is expected to leave the European Union in 2019 as a result of a 2016 referendum which began the process of ending the country's 44-year membership of the bloc. With the deadline up to present bids, the European Commission will assess the applications based on a set of criteria during the next two months.

A final decision on the relocation is due to be made in November.

Other reports by Click Lancashire

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