El-Erian: Brexit the Latest Unthinkable to Become Reality

The transcript discusses the implications of political events on markets, highlighting the risks for fund managers and the need for political will to implement economic policies. It also covers the financial sector's response to uncertainty in the UK, emphasizing the importance of strategic planning and the challenges of staffing in European financial centers.

What is the main reason for the recent political events becoming reality, according to the discussion?

• Economic downturn

• Public dissatisfaction

• Technological advancements

• Media influence

What was the reaction of the financial markets to the recent political events?

• Increased stability

• Immediate recovery

• High volatility and liquidity issues

• Complete market shutdown

What is the suggested approach for U.S. banks operating in the UK amidst the current uncertainty?

• Increase investments

• Immediate relocation

• Wait and see

• Withdraw from the UK market

Which city is considered a natural global financial center despite the current uncertainties?

• London

• Frankfurt

• Paris

• Amsterdam

What is a major concern for companies planning multi-year strategies in London?

• Poor infrastructure

• Lack of skilled labor

• Uncertain neighborhood

• High taxes

What is a significant challenge for banks considering relocating staff from London?

• Language barriers

• Cultural differences

• Reluctance to move to certain cities

• High relocation costs

Why are banks hesitant to over-invest in London at the moment?

• Lack of skilled workforce

• Uncertainty about future regulations

• Poor transportation links

• High property prices