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Anti-Brexit campaigners’ placards outside the Houses of Parliament, London, Jan. 28, 2019 (Photo by Kirsty O’Connor for EMPPL PA Wire via AP Images).

Brexiteers Sold a Vision of Britain That Wasn’t Rooted in Economic Reality

Tuesday, Jan. 29, 2019

British Prime Minister Theresa May suffered a humiliating defeat earlier this month when Parliament voted by an overwhelming margin to reject the Brexit deal she had negotiated with the European Union. Yet there doesn’t appear to be a Plan B.

Many are now betting that May will request a delay for Britain to leave the EU beyond the deadline of March 29, which May triggered in March 2017 by invoking Article 50 of the Lisbon Treaty and beginning the exit process. But the odds of a no-deal breakup also went up this month, despite fears that that outcome could lead to immediate delays in shipments and shortages of some foods and medicines. In the longer run, the current impasse reflects the fact that there are no easy answers. Assuming Brexit goes forward one way or the other, its costs could be felt for years. ...

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