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Brexit Fever is Breaking

A no-deal disaster is still theoretically possible when the next Brexit deadline arrives on April 12. But a much longer extension is almost certain, now that the principle of a potentially endless negotiation has prevailed.

LONDON – By removing the hard deadline for completing negotiations on the United Kingdom’s withdrawal from the European Union, the EU has avoided the disaster of a 2008-style sudden stop in business with its second-largest trading partner. This decision dramatically improves the economic and political outlook for the UK and all of Europe.