Midnight

The option has now expired for the United Kingdom to extend the Brexit transition period

The transition period will now end, by automatic operation of law, on 31 December 2020

There are currently no alternative arrangements in place

Brace, brace

And you thought "by automatic operation of law" was in the past?

The biggest automatic operation of law is yet to come

The transition period safety net will vanish completely in six months

And unless something is quickly put in its place there is only the cold hard floor below

There is theoretical possibility of a political fix to extend transition period - but the withdrawal agreement is structured so as to make this very difficult to impossible, and it would require considerable goodwill and speed from a unanimous EU27

So practically, not an option

So yesterday's date - when politicians and those who watch them were distracted by so many other things - was as significant for Brexit as, say, 29 March 2017

And it slipped past, with few knowing or caring

Not being able to extend the transition period means that, at a stroke, UK's negotiating position is profoundly weakened

UK will have to accept what EU offers, and get Johnson to declare it a triumph

It also necessarily limits options available

A few months is not a long time

Since 31 January 2020, UK has been artificially protected from almost all the effects of Brexit by the transition arrangements

This provided for a false sense of continuity

The abrupt removal of all those arrangements on 31 December 2020 is now the default position

There will, no doubt, be a deal or deals by 31 December 2020

Minds will focus, and EU will look to protect its interests as best it can

But understanding this default position means you understand the power dynamic for the months ahead

And UK government just let this happen