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The United Kingdom's withdrawal from the European Union is rapidly unraveling.The U.K. would maintain a customs relationship with the EU, but it would not be in the EU customs union. Instead, both U.K. and EU courts would enforce a common "rulebook," and the U.K. would be able to diverge from EU trade rules when making agreements with third parties. Academics would refer to this as "realism," which holds that states are driven by clearly defined and articulated interests that perpetually collide with one another at the global level.According to "GOT"-style realism, the EU makes no sense institutionally, because it is based on an impossible premise: the transcendence of nationalism and state interests.The U.K. was simply escaping from a burning house before it collapsed.After all, a new order brings new divisions, as is now apparent in the U.K. The City of London is torn between banks that are worried about losing their European clients and markets, and hedge funds that are looking forward to being free of European regulations.Everyone wants a better world, but few can agree on what such a world would look like.
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