Why Brexit Won't Happen

The UK has voted to leave the EU, but in the end it won't. Brexit will not happen. That's the view of the FT's Gideon Rachman, as outlined in this thought-provoking video.

Rachman's logic is grounded in political realism and the history of similar crises in Europe.

The EU has "form" for offering countries better deals after an initial referendum has led to rejection of the EU. Compromise is part of the DNA of European politicians and institutions.

Rachman argues that even Boris Johnson, who led the Leave Campaign anticipated a 2nd Referendum and perhaps still hopes for one.

Rachman explains how the prospect of an "emergency brake' on free movement is probably the clincher when it comes to a compromise for the UK that might lead to a Remain decision in a second referendum.