Brussels – Rome has shown its cards. To know whether the future Anti-Money Laundering Authority of the European Union (AMLA) will find a home in Italy, we just have to wait for the joint vote of the European Parliament and member countries, scheduled for February 22.
Rome Mayor Roberto Gualtieri and Deputy Economy Minister Maurizio Leo answered questions from the Economic Affairs Committee (Econ) of the European Parliament and representatives of the EU Council today (January 30), betting on the 17,000-square-meter headquarters in the Eur district dedicated solely to AMLA, the interconnection with other European capitals guaranteed by the Fiumicino airport – a six-time consecutive winner as Europe’s best air terminal – and a series of facilitated services and opportunities for future employees and their families.
Italy was the first to present its bid among the nine contenders, with the advantage of a more lively room and the disadvantage of not being able to observe the presentations of the other cities in the running. Which, in order, are Vienna, Vilnius, Riga, Frankfurt, Dublin, Madrid, Brussels, and Paris. “Italy has always been at the forefront in the area of anti-money laundering,” Deputy Minister Leo began, listing the best practices introduced by the Italian method and becoming “golden standards at the international level.” Italy has been using the “follow the money” approach since the 1980s, has limited the use of cash as early as 1991, and has created a Register of Current Accounts “well ahead” of other European countries.
The chair of the Econ Committee, Democrat Irene Tinagli, then gave the floor to Gualtieri. He proceeded by concentric circles: the ecosystem, the city, the office. “AMLA’s staff will be able to benefit from the training opportunities offered by the Guardia di Finanza’s School of Economic and Financial Police,” said the mayor of Rome, noting that “all the national AML authorities are in Rome.” And then the fact that “the city is the perfect place for an EU agency not only because of its beauty”: Fiumicino airport, awarded best European airport for six consecutive years, provides efficient interconnection with other EU capitals. It is also only twenty minutes from the “beautiful building of over 17 thousand square meters in the green district of l’Eur,” chosen for the AMLA headquarters.
A view of the Eur district in Rome
The location could host up to 524 employees and, “unlike most other applications,” is an “autonomous solution.” Entirely reserved for the AML Authority, ensuring “full security and confidentiality,” Gualtieri insisted. Italy is making available 27 million euros to cover part of the rent and all set-up costs for the first eight years, and a temporary premise immediately operational for 236 workers.
But being assigned the headquarters of the new authority requires fulfilling five main criteria: date of operation after the Regulation comes into force, accessibility of the place, and the existence of adequate educational facilities for employees’ children, adequate access to the labor market, social security, and medical care for both children and spouses and geographical balance. Gualtieri pointed out to the European Parliament and to EU Council representatives that Rome offers “accessible housing conditions and an extensive network of international schools.” In addition, the state is ready to provide “a permanent contribution of 2 million euros for the educational expenses of the children” of AMLA staff. Italy is also willing to offer a special convention for health care and a dedicated employment center for job opportunities for the families of employees.
In addition, the Italian proposal provides “numerous additional benefits”: from exemption on the Irap regional tax on productive activities and VAT for all furniture and first vehicles to additional tax benefits for family members who move to Italy for work. As for the geographic balance criterion, Italy currently hosts two decentralized agencies, namely the European Training Foundation (ETF) in Turin and the European Food Safety Authority (EFSA) in Parma.
The decision on whether Italy managed to outbid the other eight candidates will be revealed on February 22. Ahead of Gualtieri and Leo’s presentation, Italian sources admitted that Rome’s bid is not considered particularly strong in the face of other cities in the running, like Frankfurt, Brussels, and Vienna. This morning at the European Parliament, France and Germany dispatched their big shots to illustrate their proposal: Finance Ministers Bruno Le Maire and Christian Lindner.
English version by the Translation Service of Withub
