It becomes a 4-way stop...but that doesn't mean people are going to treat it as such.
Intersections scare me anyway, based on the fact that you never know when someone is going to blow through their red light and slam into you. Take the lights away (for whatever mechanical purposes causing them to fail) and that intersection becomes about ten times scarier because some people won't know how to treat it as a 4-way stop when they're so used to the lights.
THIS drives me nuts. Or any situation where people break driving rules/expectations. I understand they are trying to be nice, but it will only cause more accidents and problems. The other day I was at a solid green light, about to make a left turn, waiting for oncoming traffic to clear. Suddenly one of the oncoming cars came to a halt and the lady is waving for me to make my turn. REALLY?
Someone did this to my sister years ago, and she fell for it. Problem was, the person (in a Van) waving her to turn was in the INSIDE lane, and didn't bother to look to their right to see if anyone else was coming.
There was. Big fat accident.
Lesson, if you can't see around a vehicle to see if anyone else is coming, DON'T GO. Even if they are waving you on. Because they can't see what's behind them.
In England, it turns into a normal junction. Can be scary when you're turning across 2+ lanes of traffic that won't stop for you.
I discovered that looking online at traffic manuals, it's quite clear that if it breaks it doesn't exist in the UK. That's a bit , but I guess it beats thinking you're going to have people stop and they don't.