Business Standard

After Theresa May's humiliating defeat, what's next for Britain and Europe?

The short run could be bad for the rest of Europe, too

Theresa May
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Britain's Prime Minister Theresa May addresses the media outside 10 Downing Street after it was announced that the Conservative Party will hold a vote of no confidence in her leadership, in London | Photo: Reuters

Paul Krugman | NYT
What’s going to happen with Brexit? A second referendum? A disorderly hard exit? A new offer from the European Union that isn’t as offensive as the deal that just got rejected? God knows, and even He may be uncertain.

Part of the problem is that there don’t seem to be many rational actors out there. Much has been written about the fantasies of many Brexiteers; I don’t have anything to add to all that. But we should also note the fantasies of the Eurocrats, who have behaved at every step of this process as if Britain were Greece, and could be

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