An extension to the Brexit process was ultimately the only option. Britain was unable to make the trade-off between autonomy and prosperity and will need more time to think. Don’t bet on the second delay in the Article 50 process until Halloween being the last. Postponing a tough decision becomes easier the more frequently it occurs. The consequences of delay are to widen again the available options, making both the best and worst outcomes more likely. If Theresa May’s withdrawal agreement was a compromise that did nothing more than allow an orderly departure before all the big questions had to be faced, the late running of the Brexit train increases the chances of both no-deal and no Brexit.  A Conservative leadership election followed by a general election victory for a hardline Eurosceptic Tory prime minister would take the UK to the cliff’s edge. The option of passing May’s withdrawal agreement alongside a confirmatory referendum raises the odds on Britain remaining an EU member...

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