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Monday, April 17, 2017

EU to take jobs from UK after Brexit

The revelation by the Independent that EU leaders are set to strip Britain of major European agencies regarded as the bloc’s crown jewels in the early stages of the Brexit negotiations should not come as a surprise to anybody. After all many of us have been predicting such a move for some time.

The paper says that diplomats on the continent agreed at a gathering last week that the European Banking Authority and the European Medicines Agency are to be relocated from London to another city in the bloc.

The European Banking Authority, established in 2011, is an independent EU authority that regulates and supervises the continent’s banking sector and, combined with the European Medicines Agency, employs around 1,000 people.

The European Medicines Agency began operating in 1995 and is responsible for the “scientific evaluation, supervision and safety monitoring of medicines developed by pharmaceutical companies for use in the EU”.

It boasts 900 highly skilled staff and will undoubtedly create a bidding war between the EU’s member states over where its headquarters are relocated.

These are high quality, well-paid jobs but this could be just the tip of a very large iceberg. Manufacturers and employers in the banking and serfvice sector are already weighing up their options and seeing how negotiations go.

If we get the wrong deal then thousands more jobs could be lost to the continent.
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