Teaching Comparative Government and Politics

Friday, March 02, 2018

Banks on the move?

When Brexit comes many things, like banks and broadcasters, will go.

Ireland pushes for UK TV channels to make post-Brexit move
First it was banks; now Ireland is targeting television channels based in the UK who may need to relocate to an EU country after Brexit in order to continue broadcasting across the bloc.

Its foreign investment authority has launched a charm offensive in London with the aim of persuading channels to follow Bank of America and Barclays to locate their EU-regulated HQ in Dublin…

Under cross-frontier broadcasting licensing laws, broadcasters need just one “country of origin” licence in one EU state to be able to broadcast throughout the bloc.

The broadcasting business is, like banking, centred in London with as many as 1,400 channels licensed in the capital, 750 of them broadcasting to another EU country, ranging from Al Jazeera to Disney and Viacom.

And just as banks have had to relocate some of their operations to Frankfurt. Amsterdam, Dublin and Paris in order to retain their “passport” to operate across the EU, broadcasters are now being forced to look at moving in the absence of any Brexit deal to recognise the UK’s licensing system…

Ireland is facing stiff competition for the Brexit spoils. It is understood Belgian authorities have also held events in London for the broadcasting industry, and Luxembourg has been sending letters out to TV chiefs arguing it is a natural home for TV…

Ireland is also targeting the pharmaceutical sector and legal services. It recently secured a deal with Wasdell, a British pharmaceutical company to set up in Dundalk with the promise of 300 jobs over five years in a €30m investment…

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