Keep Calm and Brexit On?

Though the parliamentary defeat of British Prime Minister Theresa May’ s negotiated divorce agreement with the European Union came as no surprise, it has thrown the country’ s politics into turmoil. With the withdrawal date fast approaching, will scenarios that once seemed impossible suddenly start to seem inevitable?

In this Big Picture, Yanis Varoufakis anticipates that as the March 29, 2019, Brexit deadline closes in, the UK will find itself with only two options: a hard Brexit and a “Norway Plus” model. Anatole Kaletsky, however, believes that a second referendum seeking to reverse Brexit is not just possible, but unavoidable. And yet, as Bill Emmott cautions, the outcome of another vote is hardly a foregone conclusion.

Meanwhile, Jacek Rostowski warns that if Brexit does go through, the disruption to British manufacturers’ supply chains should not be underestimated. And Simon Johnson pours cold water on Brexiteers’ promises of restored national glory, noting that even a hard Brexit would have little effect on the rest of the world.