Brzeski: Brexit Noise Clouds Base Case for Banks

The transcript discusses the implications of Brexit on immigration and banking. Theresa May's visit to Brussels and David Davies' statements in Parliament highlight the UK's stance on immigration, emphasizing control without completely closing borders. The discussion also covers the potential impact on banking, with concerns about passporting rights and the possibility of jobs moving to Frankfurt or New York. The uncertainty surrounding these issues is evident, with various stakeholders lobbying for favorable outcomes.

What immigration system did Theresa May rule out during the Brexit talks?

• Australian-style points system

• Quota-based system

• Work permit system

• Open border policy

What is the main concern of the financial sector regarding Brexit?

• Loss of skilled workers

• Increased corporate taxes

• Loss of passporting rights

• Devaluation of the pound

Which organization is lobbying the UK government for special treatment during Brexit?

• International Monetary Fund

• European Central Bank

• City of London Corporation

• British Bankers Association

What percentage of banking business in London is dependent on EU passporting?

• 10-15%

• 20-30%

• 40-50%

• 60-70%

Which city is considered a potential beneficiary of banking job relocations due to Brexit?

• New York

• Frankfurt

• Tokyo

• Paris