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In terms of the costs and benefits of leaving, the result of the 2016 Brexit referendum was plainly irrational.Britain has never been part of a European state.One possibility is that Britain doesn't leave the EU after all.A second possibility is that Britain "crashes out" of the EU on March 29, 2019, with no divorce deal.Hence the Chequers plan for a continuation of free trade in goods between Britain and the EU. Britain would make sure that goods entering Northern Ireland, but bound for the EU via the Republic of Ireland, paid their EU customs duties and conformed to EU health and safety standards.EU leaders don't like it, either, because Britain cannot be allowed to be in for some purposes and out for others.Most bets are on Britain formally leaving the EU in March 2019, but "temporarily" remaining in the customs union, giving it two or three years to negotiate the final divorce settlement.
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