EU's banking watchdog to leave London if UK votes for Brexit

19 June 2016, 10:38
Sherif Hasan

Andrea Enria head of the European Banking Authority published in Welt am Sonntag today 19 June 2016

"If the British should decide to leave the EU, we actually would have to move to another European capital."

The EBA is currently working on an EU single rulebook aimed at ensuring a level playing field for all banks across the 28-country bloc's capital market.

"This work needs to be completed irrespective of the result of the referendum," "We must ensure that there are no different rules between the countries that have the euro and those that do not have it."

  • lack of progress in banking is why ECB struggles to boost lending and growth
  • banks must speed up efforts to deal with Non Performing Loans, change business culture

Enria said the European banking sector was more stable now than five years ago, but there was still need for consolidation.

"If you look at the balance sheets of banks, you could actually ask yourself whether such low profitability and such low return on investment are sustainable in the long term,"

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