Britain has voted to leave the EU, and the new prime minister, Theresa May, looks more likely by the day to follow the voters’ instructions. But how it happens still depends on Britain’s own parliamentary system, how it manages relations with a resentful set of Europeans across the negotiating table—and how badly financial markets punish it for its gamble.
EU politics, fickle voters, the pitfalls of an unwritten constitution and, most of all, the wrath of financial markets could all play their part in determining what Britain’s new relationship with the single market will look like.
Here, your exhaustive guide to what could happen if and when May pulls the trigger, and how bad (or not bad) that could be for Great Britain.
