The United Kingdom is facing its “most profound political crisis since World War II” – at least according to one BBC reporter – after three key Cabinet officials resigned over Prime Minister Theresa May’s Brexit plan. But this kind of hyperbole from the usually understated BBC misses the point. The U.K. has faced more serious challenges in the past: the 1956 Suez crisis, the 1976 International Monetary Fund crisis and the Troubles, just to name a few. Despite the political storm Brexit has kicked off, the fact remains that the U.K. and the EU need each other and will (eventually) find their way to some kind of arrangement.
Since invoking Article 50 of the Maastricht Treaty, which begins the withdrawal process, May has been performing a balancing act, trying to hold together a fractured Conservative Party. One faction wants a “soft Brexit,” in which the U.K. would still have access to the European Union’s common market. Another faction wants a “hard Brexit,” in wh