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European Banking Authority European Medicines agency

What impact will these two agencies have on the UK and the job market? Will financial organisations/ medical and pharmaceutical companies move to where these agencies are moving to?

Reply 1

999tigger

http://www.bbc.co.uk/news/business-42050742

Apparently the EMA is the big one as it deals with regulation for all 27 countries and we are rather good at pharmaceuticals. Some jobs will go, but unknown how many thousands.

Tragic

Apparently it's only 1300 jobs directly so not a great loss in that regard and apparently (due to the lack of a coherent banking union) the banking authority has no real power vs the FCA however there is a danger that the medical authority moving could attract other firms to Amsterdam too. Not to so much the actual pharmacutical manufacturing or research and development but rather the legal and HQ side.