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Hungary bids to host EBA after Brexit

Hungary has submitted an official bid to host the European Banking Authority (EBA), the regulatory agency of the European Union, which is planning to leave its current residence in the United Kingdom following the country’s decision to quit the EU, according to Hungarian pro-government daily Magyar Idők.


Hungary could increase its influence if international organizations relocating from the U.K. after Brexit decided to settle in the capital Budapest, Hungary’s Minister for National Economy Mihály Varga told the paper. He added that several organizations and authorities currently residing in London are planning to leave due to Brexit, asserting that Hungary would be a suitable location to host them, according to Magyar Idők. 

The government is also considering the case of other agencies, with serious thought having been given to try and convince the European Medicines Agency (EMA), the EU agency for the evaluation of medicinal products, to set up its headquarters in Hungary, local news agency MTI reported.