schmieding: yes.don will not suffer very much because of people moving out to other financial centers, that is a modest point, but overall the u.k. and its capital, london, or already suffering by than beforegrowth the referendum by logging behind the european continent. before the referendum, the u.k. was often ahead of the european continent. now they land behind in terms of tread growth -- trend growth. it is not one big price to be paid, but year by year by year, the u.k. is losing a few opportunities that it would have had if they had decided to stay in the eu. it is a free choice, but it comes at a cost. francine: holger, thank you so much, as always, for a fun conversation, holger schmieding, chief economist at berenberg. after a record amount of coronavirus cases, president-elect biden will ask americans to wear a mask for 100 days. more on that next, and this is bloomberg. ♪ bloomberg. ♪ francine: this is "bloomberg surveillance." i am francine lacqua here in london. now, thanks and concerns