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English definition of “will-o'-the-wisp”

will-o'-the-wisp

noun [C usually singular] uk   /ˌwɪl.ə.ðəˈwɪsp/ us  
something that is impossible to get or achieve: Full employment is the will-o'-the-wisp that politicians have been chasing for decades.
(Definition of will-o'-the-wisp from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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