Brexit has been postponed once again. EU leaders voted on a new deadline to reach an agreement—October 31, 2019—yet it comes with no guarantee that we will avoid a hard Brexit, which would separate the UK from both the single market and the customs union. The terms of the extension are flexible, meaning the UK can exit at any time before October 31 if the UK Parliament finally reaches a compromise. Theresa May hopes to achieve this before the European elections, which take place May 22. Otherwise, the UK must take part in elections according to EU law or else be forced to exit on June 1.
So, will the UK reach an agreement, or join the EU for trick-or-treat? President of the European Commission Jean-Claude Juncker has expressed his concern about a no-deal exit, despite the agreed extension. If the withdrawal agreement is ratified by both parties before Halloween, the withdrawal will take place on the first day of the following month, November 1.