Paris and Frankfurt emerging as favorites to host the headquarters of the European Anti-Money Laundering Agency Economy

This Thursday, the EU elects the headquarters of the new European Anti-Money Laundering Agency (AMLA) and does so with a new election system, creating considerable uncertainty about the final outcome. This time member states will not take decisions alone, with negotiations taking place almost exclusively between capitals, as has been the case so far. Paralam also participated on this occasion…

This Thursday, the EU elects the headquarters of the new European Anti-Money Laundering Agency (AMLA) and does so with a new election system, creating considerable uncertainty about the final outcome. This time member states will not take decisions alone, with negotiations taking place almost exclusively between capitals, as has been the case so far. On this occasion the European Parliament also participates and with an equal number of votes. In principle, there are two preferred cities out of nine that choose to host the headquarters of this agency with its 400 staff, Paris and Frankfurt, point out the majority of sources consulted in both the EU Council and the European Parliament. This is no surprise, France and Germany are the two largest states in the union and this always determines. But there are also many people familiar with the process who point out that Madrid has options, mainly because its candidacy is preferred by MEPs. The selection of the headquarters is the final step for the creation of this European Agency and for the new regulation to come into effect.

“It is not appropriate to ring the bell or practice triumphalism, but we should also not say that all is lost. I am convinced that we have options,” Mayor Jose Luis Martínez-Almeida said in a statement carried by Efe in Madrid. His words are more optimistic than those of the community’s president, Isabel Diaz Ayuso, who almost dismissed the city last week. The Spanish capital competes with Paris, Frankfurt, Rome, Brussels, Vienna, Dublin, Riga and Vilnius. The list is nine, but those with options have been reduced to three, although there is no shortage of people who would like to increase it to four by adding the Italian capital. That means the candidature of the four largest countries of the EU.

The alternatives to the Spanish capital are increasing, mainly because its candidacy was liked by the European Parliament. Sources in various political groups suggest that MEPs will opt for Paris and Madrid, although this does not mean abandoning Frankfurt. In fact, in the list of the largest agglomerations, in addition to the popular agglomerations, Paris and Madrid are Frankfurt and Vilnius. However, the intention of the conservatives, like the socialists, the liberals of Rennes (where Ciudadanos is registered) and other groups in the Chamber, will be to arrive at a consensus position around a short list of cities, and this is where the French and Spanish candidates emerge.

On the EU Council side, several sources suggest that the states may be trying to approach a city with a closed position around it and that Germany may be betting very heavily on Frankfurt. If Berlin ultimately gets its way and the rest of the countries adopt a stance at Thursday’s joint meeting, it will be very difficult to reverse that situation.

It is difficult but not impossible. On this occasion, for the first time, Parliament also got the power to take decisions. This is due to a ruling by the Court of Justice of the European Union, which ruled in response to Milan’s appeal against the choice of Amsterdam as the headquarters of the European Medicines Agency, that the European Parliament must also participate in these processes. A solution was reached by 27 votes to the EU Council, after Luxembourg’s decision came in the middle of negotiations over legal texts, following a tug-of-war between the Union’s two co-legislators. , one per country, and the other 27 to MEPs, which are distributed in proportion to the number of seats, which is why the EPP is the one that will have the most votes (8), then the Socialists (6), then Renewal (4. ) and so on until reaching the left wing, which has only 1. However, if the Council of the EU moves forward as a bloc, representatives of the political groups must also do so and the two institutions will decide this Thursday morning.

“The EPP Group is betting on Madrid as one of the main candidates to become the headquarters of AMLA. We hope that the city will be chosen tomorrow (this Thursday). The candidacy has the full support and endorsement of the Spanish Delegation of the EPP Group. (…) We hope that the European Council, where the Spanish government sits, will also support Madrid’s candidacy,” declared Dolors Montserrat, head of the Spanish Popular Party in parliament.

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