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European states bid to host UK-based EU bodies

EUROPEAN STATES BID TO HOST UK-BASED EU BODIES

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

Entries by various EU countries to host the European Medicines Agency (EMA) and the European Banking Authority (EBA) are to be completed by July 31, according to an EU document originally seen by the Financial Times.

The EBA and EMA are based in London's Canary Wharf international business hub and employ around 1,000 staff between them.

About 20 countries, some of which do not host any EU agencies, are expected to be in the race to host the organizations.

The U.K. is expected to leave the EU in 2019 as a result of a 2016 referendum which began the process of ending the country's 44-year membership of the bloc.

The EU document says no country can host both agencies and sets out the criteria required to host them. Minimizing disruption of services is "vital" and the winning cities must ensure "business continuity" at the time of Brexit, the document said.

Voting will be held in repeated rounds to reduce the number of bidders to two and a final decision is expected later in the year.

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