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Government wants European Banking Authority to be in ČR

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Prague, Feb 8 (CTK) – The Czech government will strive for the European Banking Authority (EBA), now seated in London, to move to the Czech Republic after Brexit, Tomas Prouza, state secretary for European affairs, said yesterday adding that the Czech Republic has relatively good chances of succeeding.
Prague will offer a suitable place which would accommodate about 200 employees.
The government preferred the EBA to the European Medicines Agency (EMA) yesterday, Prouza (Social Democrats, CSSD) said.
He said the EBA “is now outside the euro zone, the Czech Republic has a very good banking supervision which is acknowledged in all Europe and it has a stable banking system.”
He said EBA meetings are attended by 10,000 to 15,000 people annually, which would bring money to the country and the agency’s seat would promote its prestige.
“The transfer of the EBA to Prague would be economically beneficial, it would boost our position in the EU and support the development of our financial market,” Prime Minister Bohuslav Sobotka (CSSD) tweeted.
The talks about the seat will be part of the negotiations between the EU and Britain about Brexit.
“The member countries will probably make the final decision in 2019,” he said and added that an informal decision is supposed to be made within one year.
Prouza said almost all countries will strive for the EMA seat, that is why the government preferred the EBA, where the Czech Republic has a more advantageous position.
The EBA is an EU regulatory and supervisory agency. It aims at creating an effective, transparent and stable single market with banking products in the EU.

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