top of page
Search

AMLA Host Decision Takes a Eurovision Twist: 'Super Tuesday' Showdown with 54 Votes Up for Grabs

In a Eurovision-style voting twist, negotiators are gearing up for "Super Tuesday" to determine the location of the new Anti-Money Laundering Authority (AMLA). The proposed system involves a bloc of 54 votes, evenly split between the European Parliament and the European Council.

AMLA Host Decision Takes a Eurovision Twist: 'Super Tuesday' Showdown with 54 Votes Up for Grabs

During the upcoming "jumbo trilogue" session in Brussels, representatives from the European Parliament, the European Commission, and Member States will decide on the authority's location. Each entity, the Council and the Parliament, is expected to allocate 27 points or votes—one for each country in the European Council.


The process is reminiscent of the Eurovision voting system, where both a jury vote (equivalent to the Council in this case) and a Europe-wide audience vote (akin to the Parliament) play a role in determining the winner. The location with the majority of points overall will secure the hosting rights for AMLA.


COMPANY FORMATION &   DOMICILATION SERVICES

"The presidency is hoping to close all three files tomorrow and claim a win," noted one source, referring to the trilogue discussions on the regulation, directive, and the AML Authority's regulation.


Nine countries are vying to host AMLA, with Germany currently considered the frontrunner, particularly for hosting it in Frankfurt. Recent developments, such as Berlin supporting Spain's deputy prime minister for the position of the head of the European Investment Bank, further bolster Germany's favorability, as Madrid is likely to reciprocate by voting in favor of AMLA being hosted in Germany.


While the presidency aims for a swift resolution during "Super Tuesday," the European Parliament team remains cautious, emphasizing that they won't accept any proposal hastily. If necessary, a stand-alone trilogue on the AML Authority is slated for December 18th.


As the negotiations unfold in a manner reminiscent of the famed Eurovision competition, the race for hosting the AML Authority adds a unique and entertaining dimension to the serious discussions on anti-money laundering measures in Europe.

By fLEXI tEAM

603 views0 comments

Comments


bottom of page