Banking watchdog to move from London if Britain votes for Brexit

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 said in an interview published on Sunday.

Reuters reports that Britain votes on June 23 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.

The EBA, founded in 2011 as a reaction to the global financial crisis, operates as a pan-EU regulator, writing and coordinating banking rules across the bloc.

"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.

To access the complete Reuters article hit the link below:

EU banking watchdog to leave London in case of Brexit - chairman

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