November 20, 2017 / 6:54 PM / a month ago

EU picks Paris as new host for EBA after Brexit, sources say

BRUSSELS (Reuters) - The European Union has picked Paris as the new host for its London-based banking authority after Britain leaves the bloc, in a second drawing of lots in just one evening, following three rounds of voting that failed to produce a winner.

Paris tied with Dublin in the third vote and the Estonian chairman of the meeting then picked the winner according to a pre-agreed procedure.

Frankfurt, a leading EU financing centre that is home to the European Central Bank, lost out in the race at an earlier stage.

Earlier on Monday, a series of EU votes to pick a new site for the European Medicines Agency, also now based in London, also ended in a tie before Amsterdam won in drawing of lots.

Reporting by Gabriela Baczynska, Alastair Macdonald, Peter Maushagen, editing by Larry King

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