London's expensive divorce bill will put its economic stability in jeopardy—a fact that does not change in the wake of Theresa May's departure.
The Cost of a Clean Brexit
Two new complications will now likely distract commentary on the Brexit saga. One, Prime Minister Theresa May has resigned her office pending the Conservative Party’s decision on a new leader later this summer. Two, European Union parliamentary elections have created a more polarized political environment within the union. As tempting as it is to see in these events changing the face of Brexit, it would be a mistake to exaggerate their significance. The fundamental disputes that have thwarted agreement to date remain unchanged, while economic imperatives continue to impel all—on both sides of the Channel—to overcome frustration and seek some kind of post–exit relationship. The first of these fundamental considerations will ensure rough going on an agreement. The second one promises that a deal will eventually emerge, even if seemingly intractable differences will demand as much muddle as clear lines.