The prospect of Brexit creating barriers to trade with the EU has alarmed the financial services industry...

The video discusses the uncertainty Brexit has brought to the financial sector, particularly banks considering moving out of Britain. The transition period until 2020 is crucial for banks like RBS, which plays a significant role in the British economy. The movement of labour, especially European nationals, is a key issue in Brexit talks. The Irish border remains a complex challenge, with little progress made. The financial sector is eager for clarity as it navigates these uncertainties.

What is the main concern for banks regarding Brexit as discussed in the first section?

• The increase in interest rates

• The potential relocation of banks from Britain

• The rise in mortgage applications

• The impact on personal loans

Why is a transition period until 2020 considered crucial for banks?

• It allows banks to increase their profits

• It gives banks more time to decide on relocation

• It helps banks to recruit more staff

• It reduces the cost of operations

How does RBS contribute to the British economy according to the second section?

• By offering the lowest interest rates

• By lending more money to British businesses than any other bank

• By providing free financial advice

• By sponsoring local events

What is a potential solution for labor movement issues post-Brexit?

• Offering special deals for workers with shortage skills

• Reducing the number of work visas

• Implementing a complete ban on foreign workers

• Increasing taxes on foreign workers

What is the unresolved issue related to the Irish border in the context of Brexit?

• The establishment of a new currency

• The introduction of a new tax system

• The implementation of a customs union

• The creation of a new trade agreement