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A no-deal Brexit is no good. While a delay of the departure merely postpones the inevitable, it could afford both the United Kingdom and the European Union a bit more space to consider the weight of any decisions taken. This worthy research note from Guntram B. Wolff, Bruegel's director, advises the EU to make a no-deal exit as costly to the UK as possible while remaining flexible as to departure terms. But, he warns, failure should not be an option; there is much to do, as so much is at stake.
About the Author
Guntram B. Wolff is the director of Bruegel, a Brussels-based think tank.