High quality of business
infrastructure for international actors
Vienna is one of the four seats of the United Nations
(UNOV/UNODC, IAEO, UNIDO, CTBTO) and hosts 40
international organisations. Some 6000 expatriate
employees and accredited diplomats form the core of
Vienna’s international community and contribute to
the international flavour of the city. Needless to say that
English and other foreign languages are widely spoken by
the Austrian population.
Being host to international organisations and international
financial institutions, Vienna and its surrounding region
are home to highly skilled professionals in financial
and ancillary services (e.g. legal services, auditors,
consultancy, etc.) with experience in local, regional and
international banking, banking supervision and banking
resolution.
Hotel accommodation and conference facilities of all sizes
allow for the organisation of international gatherings of
very large dimensions.
There is a large supply of rentable office space, both
in historic settings and modern buildings. The Ministry
for Europe, Integration and Foreign Affairs stands ready
to assist international organisations in search of suitable
office space if so desired.
Synergies with international
organisations such as World
Bank Group and Joint Vienna
Institute
The World Bank Group manages activities through its
Vienna office which focus on finance and prudential regulation, like the Centre for Financial Reporting Reform or the
Financial Sector Advisory Centre. In-depth knowledge of its
staff can lead to valuable exchange of views with EBA
especially on international relevant issues.
The Joint Vienna Institute is a regional training centre in the
area of finance and monetary affairs, which primarily serves
public sector officials from emerging market countries. Long
lasting experience (it was established in 1992 by the Austrian Authorities, the International Monetary Fund, and several
other international organizations) ensures high quality of
courses and workshops. Subjects dealt with cover among
others, micro- and macro-prudential issues and overall
financial sector stability. Synergies in training can be
achieved and can constitute a valuable enrichment for the
EBA’s training program.
Several scientific institutions based in Austria dedicate their
research in particular to East and Southeast European economies (WIIW and others).
5 reasons for EBA
moving to Vienna
A service of the Austrian Federal
Ministry of Finance.
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5 reasons for EBA moving
to Vienna
1
Best possible location for the
European Banking Authority
2
High quality of living
3
Well-developed educational infrastructure for all ages
4
High quality of business infrastructure for international actors
5
Synergies with international organisations such as World Bank Group
and Joint Vienna Institute
Best possible Location for the
European Banking Authority
High Quality
of Living
The European Banking Authority (EBA) is the European regulatory agency responsible for safeguarding uniform application
of banking legislation throughout the Union. This responsibility
extends to Member States of the Eurozone in the same way as
it does to EU Member states retaining their national currencies. Vienna is at the crossroads of both parts – Austria
is a member of the Eurozone, but has important Non-Eurozone
countries and potential future EU Member States in its direct
vicinity, with which it has traditionally maintained close relations. It is home to international organisations, a large variety
of financial institutions - some of which are important regional
and international players - and a financial sector that is highly
integrated with markets in both Eurozone and Non-Eurozone
countries.
By offering a green, clean and safe environment with best
infrastructure Vienna continues to be one of the most
attractive cities in terms of overall quality of living and
it was ranked best again at the Mercer’s Quality of living
ranking survey 2016. The outstanding quality of living in
combination with a low price level, in comparison with other
financial centres, makes it an attractive place to live for
international work staff and their families.
Despite great difficulties during the financial crisis, Vienna
assumed regional responsibility („Vienna Initiative“) and maintained its status as a significant regional financial hub.
Therefore, based on its location and its international and European links, Vienna is the logical choice for the EBA – especially
given the fact that it could allow the EBA to strengthen its
important neutral coordinating role between euro area
states and non-euro area states.
European citizens and their accompanying family members
enjoy free access to the Austrian labour market.
The Austrian health care system – public and private – is
among the best in the world. Situated at the Eastern end
of the Austrian Alps, Vienna offers multiple recreational
opportunities.
A well-functioning public transport system from the
airport to the city and within Vienna helps to ensure efficient travel management for missions by the EBA staff
and also for participants in EBA-meetings. Excellent flight
and train connections make Vienna easily accessible and
a gateway to all European destinations.
Well-developed educational
infrastructure for all ages
A number of international or bilingual schools offer international curricula (international baccalaureate) and tuition
in languages other than German; some of them draw special focus on technical, business oriented or social science
education, providing children of all ages with an inspiring,
high-quality educational offer. Universities and universities
of applied sciences and arts offer some of their courses
and programs also in English.