London's McGuiness: Britain must negotiate staggered departure from EU in next few months

Eren Sengezer FXStreet

Catherine McGuinness, the policy chief of London's financial district, told Reuters that "Britain must negotiate a staggered departure from the European Union in the next few months or risk seeing thousands of finance jobs move overseas."

Key quotes (via Reuters):

Britain and the EU must agree the outlines of any transition before the end of the year or it will be too late
Some firms in the sector have started relocating parts of their businesses overseas amid frustration at the lack of clarity about what any Brexit deal may look like
Firms may move up to 15,000 finance jobs without any deal, decisions are already being made
We need to remember that we are the ones walking out the room

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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