Business

Wednesday 7 December 2016

Hayes calls for European Banking Authority to relocate to Dublin

Sean Duffy

Published 29/06/2016 | 08:50

Fine Gael MEP Brian Hayes, : Steve Humphreys
Fine Gael MEP Brian Hayes, : Steve Humphreys

Irish MEP Brian Hayes believes Ireland should attempt to bring the European Banking Authority (EBA) headquarters to Dublin.

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The regulatory watchdog is currently located in London, and top EU officials have indicated that the EBA must be moved after Britain voted to leave the EU.

Paris and Frankfurt have been mooted as possible destinations for the EBA, but MEP Hayes believes the relocation process could be an ideal opportunity for Ireland.

“Given its position as a key financial services sector in Europe where many of Europe’s biggest banks conduct operations, Dublin would serve as an ideal location for the European Banking Authority following a Brexit,” Mr Hayes said.

“This is now up to the government to convince European colleagues that Dublin is the most suitable new location for the Authority,” he added.

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