The Republican of Ireland is formally bidding for two key European Union agencies that will have to relocate out of London once the UK completes its Brexit from the continental union.

The European Banking Authority (EBA) and European Medicines Agency (EMA) employ around a thousand people in London's Canary Wharf, and relocating that to Dublin would do well to offset some of the collateral economic damage that Ireland would shoulder with the Brexit. 

There will be fierce competition for these agencies' highly skilled workers, their families, and the business that comes with them.  The EBA attracts 40,000 hotel stays per year.  Ireland's Minister of State for Financial Services says Dublin is the natural choice for hosting a relocated EBA because it offers a "seamless transition as Ireland is English speaking and culturally similar to London and is within the GMT time zone which helps maintain EBA routine option with minimal disruption".

The EMA might be even more likely to wind up in Dublin because of Ireland's expertise in life science and a proximity to London which could help the agency hold on to key staff.  The Republic is offering as much as 80 Million Euros over ten years to help the agency relocate.