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Britain will not vote to leave the EU.British public opinion may move even further in the "Out" direction for a while longer, as Euroskeptics ridicule the "new deal" for Britain agreed at the EU summit on Feb. 19 .The Out campaign's main economic argument – that Britain's huge trade deficit is a secret weapon, because the EU would have more to lose than Britain from a breakdown in trade relations – is wrong. Britain would need to negotiate access to the European single market for its service industries, whereas EU manufacturers would automatically enjoy virtually unlimited rights to sell whatever they wanted in Britain under global World Trade Organization rules.Britain would therefore need an EU association agreement, similar to those negotiated with Switzerland or Norway, the only two significant European economies outside the EU.Worse still, any special favors for Britain would set a precedent and tempt other lukewarm EU members to make exit threats and demand renegotiation.
Has a no-deal Brexit become more likely?
The world economy goes Hollywood
Once seen as impossible, could
canceling Brexit now be inevitable?
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