Brexit negotiations have just started but the UK’s financial services industry is already running short of time to adjust to the worst case of a ‘hard Brexit’. An assurance for a transition arrangement would be necessary to avoid expensive contingency measures. This blog post reviews the current state of relocation plans and asks whether negotiation parties could settle on a transition arrangement soon enough to avoid exaggerated worst-case planning.
Philipp Ständer is Advisor at the Federals Ministry of Labour and Social Affairs, he formally worked for the Jacques Delors Centre.