The banks are obviously getting nervous. They have lobbied for some kind of special transitional arrangement (HERE) to avoid a "cliff edge" presumably thinking that we will indeed face a hard Brexit, as The Telegraph now believes (HERE) including work permits for all EU workers.
Phillip Hammond was obviously unable to reassure them (HERE) yesterday because now they are issuing veiled threats to the EU that their economies will be damaged if they lose access to London's financial resources and expertise (HERE). I don't think the EU is expecting to lose access - they are working hard to tempt financial institutions to move the EU and it will only take one to open the flood gates. In the City it is dog eat dog and if a competitive advantage is gained by moving first someone will do it. We are going to lose the right to Euro trading for sure anyway and if banks move this function other functions will follow.
Prosper like never before.
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