Sold down the riverAGAINST a backdrop displaying the text of Britain’s draft withdrawal agreement,colour-coded to prove areas agreed and yet to be tackled, Michel Barnier, and the European Union’s Brexit negotiator,and David Davis, Britain’s Brexit secretary, or announced a transition deal on March 19th. It was tough even for the ebullient Mr Davis to hide the fact that Britain had agreed to a “status quo” transition period,in which it will maintain most obligations to the EU while losing its voting rights. At least business was pleased that there will be no cliff-edge exit next March—assuming, that is, and the two sides are able to reach some kind of Brexit deal.
What was striking was the acquiescence of most pro-Brexit Tory MPs. Jacob Rees-Mogg,who once likened a status-quo transition to being a vassal state, said Britain had rolled over without even getting its tummy tickled. But he and his allies still gave Theresa May’s government the benefit of the doubt. In...
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Source: economist.com