This Friday marks the beginning of the crucial phase. On November 10, the deadline for applications for the future location of the planned EU Anti-Money Laundering Authority (AMLA) expires. Just before the submission deadline, Germany is making a final push to convince its European neighbors that Frankfurt would be the perfect choice.

On Thursday, German Finance Minister Christian Lindner, Hesse's Finance Minister Michael Boddenberg, and Frankfurt's City Councillor Stephanie Wüst will present compelling arguments in Brussels. They will emphasize that Frankfurt, with its excellent IT infrastructure, is well-equipped for effectively detecting and prosecuting money laundering and terrorist financing, primarily due to its ability to handle large volumes of data.

Secondly, Frankfurt offers everything that specialists and experts from all EU countries prioritize, from international schools to an airport providing fast and frequent connections to their home countries. Thirdly, nowhere else in Europe are there so many key contacts located just around the corner – from the ECB banking supervision and BaFin to the Bundesbank and the EU insurance authority, EIOPA. Not to mention all major banks, including both German institutions and numerous branches of foreign banks.

Frankfurt aims to highlight that the term "just around the corner" is almost literal. Compared to cities like Paris, Madrid, or Warsaw, distances within Frankfurt are extremely short. From the center of the banking district on Taunusanlage, every location in Frankfurt, based on my studies, can be reached within 28 minutes – by bicycle. Of course, not necessarily places like Frankfurt-Sindlingen or the farthest corner in Bonames. But all locations relevant to financial professionals: the ECB, the Bundesbank, the airport, and residential areas in Westend, Nordend, and Sachsenhausen. And for those wanting to quickly enjoy some fresh air in the city forest, a trip to Goetheturm can be made in 28 minutes.

Speaking of the forest: Frankfurt is essentially a large habitat with a clearing where a few skyscrapers stand. Approximately 14% of the city's area is covered by the city forest in the south, and in the north, it borders the Taunus mountains. In other major European cities, the distance to places where trees provide shade is greater. Frankfurt will surely emphasize this aspect in its bid for the AMLA headquarters.

The advantage of short distances is likely to appeal to many future AMLA employees who spend two hours commuting daily on trains in other metropolises and need to block their entire afternoon if they have an external appointment at a bank.

The only ones for whom Frankfurt's close proximity is a disadvantage are taxi drivers. They often struggle to hide their displeasure when passengers board at the main station and instruct the taxi driver to go to Deutsche Bank, Commerzbank, or the Bundesbank. After all, the exit from the station square often takes longer than the rest of the route.