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The second is to establish identical regulatory regimes throughout the United Kingdom, including in Northern Ireland.Nevertheless, EU and U.K. negotiators are now proceeding to phase two of the Brexit process, raising the distinct possibility that they will continue to muddle through without ever resolving the phase 1 trilemma.A second agreement would establish a "standstill transition," whereby the U.K. would retain the benefits of EU membership, but also the obligations, such as contributing to the EU budget, allowing for the free movement of people, and adhering to European court rulings.For Britons in the "Remain" camp, such a transition will allow the U.K. to stay in the EU in all but name.After all, whereas all previous EU trade deals were designed to achieve convergence between the EU and a third party, an EU-U.K. deal would be geared toward preventing divergences.The big question is not whether Britain leaves the EU, he points out, but whether Britain will "still adhere to the European model" of regulation.The U.K., having formally exited the EU and given up any say in EU decisions, would still be subject to EU laws.In either case, the U.K. will hardly have taken back control.
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