The City UK, an influential trade body for the financial industry in the UK has warned about the unpredictability of Brexit and is hoping for a transition period with the European Union. Gerard Lyons, an economist and former Brexit campaigner is also arguing for a transition period. The City UK has highlighted the danger of Brexit on the financial industry and how the UK may lose its dominant position. Around 10,000 jobs in finance are expected to leave the UK in the coming years according to a Reuters survey. "For our industry, this really is crunch time." said City UK chief executive Miles Celic.

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