The Brexit Debacle

Richard Seymour

You can't understand the chaos of Brexit without understanding the fundamentals of the European Union.

The British Prime Minister Confirms That Her Cabinet Back Brexit Draft Agreement

British prime minister Theresa May delivers a Brexit statement at Downing Street on November 14, 2018 in London. (Dan Kitwood / Getty Images)


On November 14, after months of negotiations, Britain’s Conservative prime minister, Theresa May, unveiled her draft Brexit deal to leave the European Union. Not long after, the European Union’s twenty-seven member states approved the major details in Brussels.

But the deal is so obviously a bad one that it’s elicited howls of protest from every political corner, including from her own party. While May managed to secure Cabinet approval, two top cabinet ministers quit the next day, including her Brexit minister.

The near-unanimous opposition has raised the possibility of a “no-deal” Brexit upon the deadline of March 29, 2019. The chaos has opened up all kinds of potential scenarios: a second referendum, a general election, a second vote on May’s deal.

Sorry, but this article is available to active subscribers only. Please log in or become a subscriber.