What I Learned This Week

Brexit is dead. Long live the European Union and the euro.

Following the resignations of “Brexit minister” David Davis and Foreign Secretary Boris Johnson this week, Labour leader Jeremy Corbyn cut to the quick: “The Chequers compromise took two years to reach and two days to unravel…It is clear this government cannot secure a good deal for Britain.” Since the referendum vote in 2016, Theresa May’s Conservative government has been paralyzed by the irreconcilable downsides of Brexit. May believes a “hard Brexit” would be ruinous for the British economy, breaking corporate supply chains built over decades. Davis and Johnson believe a “soft Brexit”—like the Chequers agreement—would render the UK an EU “colony”, subject to EU law without the power to sh…

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