UBS CEO Ermotti: Not Convinced on Hard Brexit

The transcript discusses the potential outcomes of Brexit, focusing on the UK's financial industry. It highlights the importance of the financial sector to the UK economy and speculates on London's future as a financial capital. The discussion also considers the possibility of financial flows shifting to other regions, such as the US or Asia, due to Brexit.

What is the speaker's stance on the likelihood of a hard Brexit?

• They are convinced it will happen.

• They are skeptical about its inevitability.

• They believe it is already in effect.

• They have no opinion on the matter.

Why does the speaker believe the financial industry is crucial for the UK?

• It is the largest employer in the UK.

• It contributes significantly to taxes and well-being.

• It has no impact on the UK economy.

• It is the only industry in the UK.

How does the speaker view London's future role in the financial sector?

• It will only serve local markets.

• It will become irrelevant.

• It will remain important but with changes.

• It will surpass New York as the top financial hub.

What does the speaker suggest about the potential shift of financial flows?

• There will be no change in financial flows.

• Flows will only move within Europe.

• All flows will move to Asia.

• Some flows may return to the US or go to Asia.

According to the speaker, what is the assumption about financial flows post-Brexit?

• They will go to other parts of Europe.

• They will remain in the UK.

• They will only go to the US.

• They will disappear completely.