May Said to Offer No Brexit Favors for London Banks

The video discusses the market's reaction to Brexit negotiations, focusing on the financial services sector. It highlights the disappointment of banks as Theresa May's administration shows no preference for financial services in the talks. Despite banks contributing significantly to the UK economy, their requests for special status and a transitional deal are being rebuffed. The lack of an interim deal is causing market concerns, with key business groups like City UK and the British Bankers' Association seeking a transitional period to adapt to the post-Brexit world.

What was the main reason for banks' disappointment in the Brexit negotiations?

• The economic data not supporting their case

• Lack of special status or favors in negotiations

• The government's focus on other industries

• Theresa May's preference for financial services

What was the key business demand that Theresa May dismissed?

• Increased economic contributions

• Special status for financial services

• An interim deal during negotiations

• A permanent deal with the EU

How did the rejection of the interim deal affect the markets?

• It stabilized the markets

• It caused concern and uncertainty

• It led to increased investments

• It had no impact on the markets

What did financial associations accept regarding passporting rights?

• They would lose them immediately

• They were guaranteed by the government

• They would definitely retain them

• It might be too much to ask for

What was the proposed duration for the transitional deal sought by financial associations?

• One year

• Ten years

• Three years

• Five years