What is Brexit Anyway?

What is Brexit Anyway?

What is Brexit Anyway?

What is Brexit Anyway?

Brexit, short for “British Exit”, refers to the possibility of Britain exiting the European Union. There will be a referendum for either “stay” or “leave” which will take place on June 23rd.

Why is it important?

As England's Prime Minister David Cameron called it, the Brexit is “one of the biggest decisions this country will face in our lifetimes”. Should Britain decide to remain in the EU or not, there would be countless economic and political repercussions that would completely shake the market either way.       

What would happen if the UK stayed in the EU?

No country has ever left the union. This fact creates major uncertainty as no one really knows what the outcomes may be.

However, there are many possible scenarios if Britain will decide to stay in the EU. First and foremost, the immigration issue. Britain might continue to experience a lot of pressure on its public services. The second thing is that the UK will continue to contribute to the EU's budget and regulations and will not have to change its trade agreements.   

What would happen if the UK decided leave?

Should Britain decide to leave the EU, it will save a lot of money because it will no longer have to contribute to the EU budget. On the other hand, they are risking in losing parts of trade deals made under the joint power of the EU. As far as immigration goes, it can decrease dramatically if Britain will leave, because as long as Britain remains under the rules of the EU, they can't prevent anyone from the EU member countries to live within their territory. 

 

 

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