London is losing the European Medicines Agency to Amsterdam and the European Banking Authority to Paris, in one of the first concrete signs of Brexit as the UK prepares to leave the European Union. Paris won the race to take the European Banking Authority from London, beating Dublin in the final, after the favourite Frankfurt was knocked out in the second round. “The same people who argue for setting the UK free also argue that the UK should remain in some EU agencies. The European Banking Authority started work in 2011 under the Conservative-Liberal Democrat coalition to tighten up financial supervision after the 2008 crash. Bulgaria, Romania, Croatia, Cyprus and Slovakia do not have an EU agency.

Source: The Guardian November 20, 2017 17:58 UTC