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By Antoine Kremer, ABBL ALFI Head of European Affairs, Brussels
Alea jacta est! The dice is cast. After three rounds of secret ballot voting, a tie and a draw of lots at the most recent meeting of the General Affairs Council, the European Banking Authority goes to Paris. Even insiders were stunned. But with hindsight, was it that unpredictable?
Indeed you could write off Paris and Frankfurt as they both have already the European Securities Markets Authority (ESMA) respectively the European Insurance and Occupational Pensions Authority (EIOPA). Surely by secret ballot and each having the same voting rights, the small and medium sized Member States would not give the EBA to one of these two European giants that already have a big share of...
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