Tag Archives: European Banking Authority

Brexit: the four directions, part 1

There are four ways the UK can go from here with regard to Brexit, and all of them are bad.

First: hard Brexit, or no deal.

On 29th March 2019, the UK leaves the EU. If no deal has been agreed to, on 30th March 2019 the UK becomes a “third country”, in EU parlance – outside the EU, not part of the customs union, no access to EU agencies or EU funding, a hard land border between the Republic of Ireland and Northern Ireland – and between Spain and Gibraltar.

The inevitable and foreseeable consequences of this aren’t pretty. While Brexiteers have tried to argue with me that the countries of EU-27 won’t “let” this happen because hard Brexit will damage them too, they ignore two key points:
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