EU’s McGuinness Warns City of London ‘Change is Coming’

The transcript discusses the timeline and implications of Brexit on financial services, emphasizing the need for a memorandum of understanding by March. It highlights the EU's preparedness for Brexit, the potential for deregulation in the UK, and the importance of maintaining a level playing field. The EU aims to strengthen its financial regulations while acknowledging the UK's significant financial center status. The discussion underscores the challenges of creating a new relationship with the UK outside the single market.

What is the significance of London as a financial center in the context of Brexit?

What does the speaker imply about the single market for financial services after the UK leaves the EU?