European cities battle for Brexit spoils

BRUSSELS — Brexit is still well over a year away but two European cities on Monday will already be celebrating Britain’s departure from the European Union.

Two major EU agencies now in London — the European Medicines Agency and the European Banking Authority — must move to a new EU city because Britain is leaving the bloc. The two prizes are being hotly fought over by most of the EU’s other 27 nations.

Despite all the rigid rules and conditions the bloc imposed to try to make it a fair, objective decision, the process has turned into a deeply political beauty contest.

It will culminate in a secret vote Monday at EU headquarters in Brussels that some say could be tainted by vote trading.

The move involves tens of millions in annual funding, about 1,000 top jobs with many more indirectly linked, prestige around the world and plenty of bragging rights for whichever leader can bring home the agencies.

At an EU summit Friday in Goteborg, Sweden, leaders were lobbying each other to get support for their bids.

The EMA is responsible for the scientific evaluation, supervision and safety monitoring of medicines in the EU. It has around 890 staff and hosts more than 500 scientific meetings every year, attracting about 36,000 experts.

The EBA, which has around 180 staff, monitors the regulation and supervision of Europe’s banking sector.