Arab Today, arab today eu banking watchdog to leave london if brexit
Last Updated : GMT 08:53:10
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EU Banking Watchdog to Leave London if Brexit

Arab Today, arab today

Arab Today, arab today EU Banking Watchdog to Leave London if Brexit

EU Banking Watchdog to Leave London if Brexit
Berlin - QNA

The European Union's banking watchdog will move from London to another European capital if Britain decides to quit the bloc in a referendum this week, its chairman says. 
Britain votes on Thursday on whether to stay in the 28-member bloc, a choice with far-reaching consequences for politics, the economy, defence and diplomacy on the continent. 
'If the British should decide to leave the EU, we actually would have to move to another European capital,' Andrea Enria, head of the European Banking Authority (EBA), told the German newspaper Welt am Sonntag. 
'This work needs to be completed irrespective of the result of the referendum,' said Enria. 
'We must ensure that there are no different rules between the countries that have the euro and those that do not have it.' Enria said the European banking sector was more stable now than five years ago, but there was still need for consolidation. 
The London-based EBA, founded in 2011 as a reaction to the global financial crisis, operates as a pan-EU regulator, writing and co-ordinating banking rules across the bloc.

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