Brexit is the start, not the end, of the process

Source: Cato Unbound
by Ryan Bourne

“Though economics was not the deciding factor in the referendum, it is clearly the area where bad negotiations could mess things up now. Theresa May’s government desires a comprehensive free-trade agreement with the EU to replace its current trading relationship, but this may take longer to agree than the 2-year formal negotiations allow. For that reason, most sensible Brexiteers accept the need for a period of transition — a glide path from one set of trading arrangements to another. The frequent question we ‘Economists for Brexit’ get asked though is whether the UK can be an economic success outside of the European Union in the longer-term. That this is even asked seriously is bizarre.” (09/15/17)