(3) - What about another referendum? This........>

UK: (3) - What about another referendum? This would arguably be even more

problematic. Calling a second referendum when the first one has not be satisfied

would again be considered an assault on democracy. A second referendum would

also be more complicated and opaque (in terms of securing a sufficiently strong

mandate) than the first. There are three obvious potential options: no-deal

(disorderly and extreme), May's deal (considered by many to be 'Brexit only in

name') and an option for staying in the EU such as revoking Article 50

(effectively overruling the previous referendum result). No two of these three

choices neatly  represent both sides of the debate, so all three would need to

be included on the ballot. That would then raise the issue of how democratically

credible a three-way vote would be.

- All this leads me to believe that the perceived risk of no-deal (even if it is

not an immediate risk) is 'under priced'.