The European banking regulator will leave London in the event of Brexit


As reported in an interview with German newspaper Welt am Sonntag, the head of EBA, Andrea Enria, if the citizens of great Britain on 23 June will vote for the country’s withdrawal from the EU, the headquarters of the Association will leave London and move to a different European capital.

INRIA indicated that regardless of the result of the referendum, the organization will continue to work to create a unified banking rules for countries that adopted the Euro and countries that have kept the national currency.

The head of the EBA expressed the view that currently the banking sector in Europe more stable than 5 years ago, when the Association was created as a response to the financial crisis. However, there is, according to him, a lot of work. Enria believes that banks need to change internal business culture, in order to avoid new scandals and fines.

A few days before the referendum on the fate of the UK in the EU, the outcome of the vote is not clear. The latest polls showed a slight advantage for those who wish that the United Kingdom left the European Union.

15 Jun the Minister of Finance of great Britain George Osborne said that leaving the EU would cost the country £30 billion in the next four years. Osborne warned that the government will have to compensate the budget deficit by raising taxes. The Minister admitted that because of a British exit from the European Union may be a reduction in public spending on health, defence, education, police and transport.