BERLIN (Reuters) – Germany feels Frankfurt is entitled to host the European Banking Authority after it leaves London as part of Britain’s EU withdrawal, because it is already a serious financial centre, Chancellor Angela Merkel said on Wednesday.
“(We feel) predestined to host the European banking supervisor because with Frankfurt, we already have a proper centre,” Merkel told a banking conference in Berlin.
Merkel repeated that her priority in Brexit negotiations was to achieve certainty for EU citizens stranded in Britain and Britons in the EU after Brexit, stressing that Britain’s withdrawal process would be “endlessly complex”.
She reiterated that Germany wanted Britain to remain a close ally after Brexit, but leaving the European Union would have its price.
(Reporting by Andreas Rinke; Writing by Thomas Escritt; Editing by Michael Nienaber)