...the successor to the Holy Roman Empire, only without the Hapsburgs and the nifty uniforms and the dancing...and businesses have ramped up planning for the fallout from the United Kingdom leaving the bloc without a divorce deal with just 100 days until Brexit.
Many European companies are planning for an economic shock in case the "nightmare" scenario becomes reality on March 29 next year.
European Commission President Jean-Claude Juncker on Wednesday said it would be an "absolute catastrophe" if the UK leaves the European Union without a transition deal in place.
For this reason, the commission and EU member states are working hard to avoid such a scenario, Juncker added, "but it takes two to manage a decent tango".
Prime Minister Theresa May's failure to find a deal the British parliament will approve means the world's fifth-largest economy now faces three choices: agreeing on a last-minute deal, halting Brexit, or leaving the EU without an agreement.
No deal means there would be no transition, so the exit would be abrupt. Bank of England Governor Mark Carney said leaving the EU with no transition could be akin to the 1970s oil shock.