Brexit: UK’s pending divorce with the EU

The politics of the United Kingdom has entered a chaotic, if not entirely dark, phase. Prime Minister Theresa May has announced, in the wake of her inability to deliver an acceptable formula for Brexit, that she would step down on June 7. Her colleagues in the Conservative Party remain deeply divided over the terms of the Withdrawal Agreement she negotiated with the European Union and have rejected three times her attempts to get it passed in Parliament.

That agreement is, in principle, based on the notion of the U.K. leaving the EU’s single market and customs union, the termination of…