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Frankfurt, the capital of Hesse, the financial center of Germany and the seat of the ECB: this will be the city where Amla, the EU's new anti-money laundering authority, will be based. In the long battle between the nine candidate cities to host the new European agency, Rome was on the field and in play for much of the complex voting, involving first the EU Council and the Permanent Representatives of the 27 and then again the governments of the Union, but this time together with representatives of the European Chamber. In the end, the capital always remained on the shortlist and came fourth behind Frankfurt, Madrid and Paris.
The Nine Way Contest
“The Amla will have direct and indirect supervisory powers. “Today’s election represents not only the election of a city, but above all a significant step forward in the fight against financial crime,” stressed the Belgian Presidency, emphasizing that the authority “represents an effective tool to ensure the integrity of the EU financial system.” . » and «protect citizens from the harmful effects of money laundering and terrorist financing». The secret vote began in the afternoon in the Europa building. The nine cities that came forward in a months-long dispute were Rome, Frankfurt, Paris, Madrid, Dublin, Vienna, Vilnius and Brussels. A few weeks ago, the representatives of the candidates' governments and administrations were heard in the EU Parliament, and there the speech by Mayor Roberto Gualtieri made an excellent impression in the eyes of the MPs.
Germany's political weight was decisive
In the end, however, it wasn't enough. At the end of the first voting phase, the EU Council decided in favor of Frankfurt. Followed by Paris, Rome and Vilnius. In the vote with the representatives of the European Chamber, Madrid also made a leap forward because the European Parliament itself had named Rome, Paris, Frankfurt and the Iberian capital in its shortlist. However, the epilogue has not changed. In the end, it was the political weight of Olaf Scholz's government that made the difference and had already reserved three buildings for Amla. The Hessian city, which is already home to the ECB and the European Insurance Supervisory Authority (Eiopa), was strongly supported by the very aggressive Finance Minister Christian Lindner, who promised in the last public meeting before MPs to double public funding for the new one Authority increases the amount from 10 to 20 million euros, which is useful to cover rent in the first years.
The proximity to the Eurotower
One of the strengths highlighted in a ten-minute talk was proximity to the Eurotower and the 280 banks headquartered in the large financial center, as well as an international labor market with support services in English and international schools for employees. Three possible buildings are included in the city skyline slides presented by the federal government: Tower 185, the Flow in the Gateway Gardens district and the Fair Tower. According to the mayor of Frankfurt, the social democrat Mike Josef, all three are already “ready for immediate occupation”. And now Chancellor Olaf Scholz was happy: “Frankfurt will be an even stronger financial center.”
Reactions in Italy
In Italy, however, the defeat in Rome triggered attacks from the opposition. “It is another defeat for the government,” emphasized the head of the M5S delegation in Strasbourg, Tiziana Beghin. “It is clear that Italy’s isolation is weighing heavily,” commented Azione’s Fabio Massimo Castaldo and Giosi Ferrandino.