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.

In what ways do the speakers suggest that the political climate could change in the near future?

What factors are influencing the decisions of big banks regarding their operations in London?

What is the significance of the 'passport' mentioned in relation to dealing in Europe?