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On the contrary I think they'd be emboldened
If the UK, which has always been one of the more Eurosceptic members can't actually execute leaving then why would they worry about things being a step too far for other member nations and their electorates.
If Brexit gets cancelled the message is clear - we are all so intertwined now that leaving is just not practical or possible. Would be a huge game changer for the EU to face down Brexit.
...same as for everyone else...
The Treaty does not specify a particular timetable for joining the euro area, but leaves it to Member States to develop their own strategies for meeting the condition for euro adoption.
After all the unpleasantness with Greece etc, the EU may well feel that adoption of the Euro and its successful implementation across a wide range of economies would require too much central control and that that would be a step too far for many member nations and their electorates.
As we have seen, it is far too easy for voters to blame Brussels for the incompetence and voter-wooing venality of their own governments.
Also if we do rejoin, we can forget about Mrs Thatcher's rebate and we'll have to adopt the Euro.
Any attempt by the UK to rejoin the EU will be vetoed, unless and until (1) the current crop of halfwits in government have been purged and replaced by grown ups, and (2) there's at least 65% of the population in favour of rejoining.
No. (2) will happen before no. (1).
Border in the Irish sea. Johnson's not getting this through Parliament, surely? If his plan was to bung the DUP again, it's not going to work by the sounds of it.
Presumably he will try again for a GE, after sending the extension letter. If he can't get that, what? 2nd referendum odds must be shortening now.