The exit of the United Kingdom from the European Union was originally scheduled to happen earlier this year, on March 29. Then, both the U.K. and the EU agreed to an extension, with a new deadline of April 12. Then, both sides agreed to another extension, October 31. Now, the new deadline is Jan. 31, 2010. The reason: The U.K. Parliament has still not agreed to any sort of deal regarding immigration, trade, and a myriad other details that would be thrown into open question if no details are ironed out.

At the moment, all 28 members of the EU enjoy the best and the worst of such a conglomeration. Many economists would argue that trade and business agreements between countries are high on any sort of list of details to nail down. If the U.K. leaves the EU, then the U.K. will have to negotiate a new trade deal with every remaining member of the EU. And it's not just trade. Many, many other elements of cooperation that are now taken for granted will not be.

The flip side is that a majority of the voters who cast their ballots in a 2016 referendum voiced their approval of Brexit, for a variety of reasons, not the least the simmering issue of immigration and how people who aren't U.K. citizens are or might be treated differently than those who were born in or have obtained U.K. citizenship.

So far, neither Prime Minister Boris Johnson nor his predecessor, Theresa May, has been able to secure enough members of Parliament to approve a package of proposals to implement should the U.K. leave the EU. Every delay that the EU has granted has been contingent on the U.K. Prime Minister's ability to deliver some sort of deal. The standing offer is that if Parliament approves a deal, then Brexit could proceed.

In the meantime, Johnson and his Conservative Party are going ahead with plans for an election, on December 12.