The Impact Of The United Kingdom To Leave The European Union

Whether the United Kingdom decides to join the European single currency and replace the pound with the euro will have profound economic as well as political effects on the country so is a very important decision and has considerable variations in attitudes towards the topic, although the British public opinion has consistently opposed joining the euro. The euro is currency shared by 18 of the European Union's Member States. The euro was introduced in 1999 and automatically became the new official currency of 11 States, followed by another 7 countries joining to date. However, the UK negotiated an opt-out to from the Treaty meaning they don’t have to adopt the common currency as they fit a certain criteria [1]. Joining the European single currency can have major advantages for the UK, such as diminished uncertainty of exchange rate for businesses and the decreased need to pay transaction costs of changing currencies when abroad. It can also have disadvantages such as loss of domestic monetary policy and variable rate debt in the UK.

How likely is it that an integrated Europe will fall apart? What are the benefits and costs for Britain to leave the European Union?

What kind of harm will Britain pulling out of the European Union cause to the equilibrium, even with them taking precautions?

Lately in the EU, the economy has been booming, politics have been great, and trade is bigger than ever. What better time than now to leave the economic safety and success of the EU? Lately in the EU, the economy has been booming, politics have been great, and trade is bigger than ever. What better time than now to leave the economic safety and success of the EU?

This article explains the “on-going” argument of whether or not Britain should remain in the European Union or leave. Prime Minister David Cameron vowed to keep Britain apart, winning the backing of most of most of his Cabinet and the goal of rival parties. Cameron has made it clear Britain is safer and stronger in the EU. However, much of Britain believes in opposition to their membership among the the European Union, leaving this as a constant

The EU has its own currency called the euro which 19 of the 28 European states use. It is run by members of the European parliament, these members set rules that cover a wide range of areas such as rules on transport and business. Once a state becomes a member of the European Union they have a right to withdraw from the Union under the Treaty on the European Union. Article 50 in the Treaty on European Union states, “Any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements." If the United Kingdom votes to leave the Union, they would be the first state to ever withdraw their membership.

So after the result of the referendum had been out, the first affect is the pound had fallen sharply, according to (Taub,A. 2016.) the pound is at its lowest valuation in seven years. Due to the (Hunt,A. & Wheeler,B. 2016) uncertainty rushing around, a British exit will likely result in a massive rebalancing of currencies. Investors will (and have already begun to) dive out of the British pound and into cash that's perceived as safe — the Swiss franc, the Japanese yen, the U.S. dollar. The changing direction of the investor and the fallen of the pound has spiked the value of Yen which has made Japan’s export being less competitive. Even the fallen of the pound can help the export business and attract more tourism to the country ,which due to the (bbc no name) The travel analytics firm ForwardKeys says flight bookings to the UK rose 7.1% after the vote. The import business still have to pay more for the fuel and material due to the costs which have increased 7.6%. Moreover, since 51% of goods and 45% of services of the British’s export are taken over by the EU. Losing access to the EU single market would mean less trade and less productivity growth which could (Chu,B.2016.)make

On Thursday 23rd of June, the UK decided to leave the EU via a referendum. This was a shock to not just the British public, but also the world as it resulted in a colossal level of uncertainty for everyone. But how did this unexpected result happen? One reason why the British public voted to leave the EU can be blamed upon the scaremongering that was proceeded by the British media. I will be focusing on the time period from 2004 until now because this is the period after the A8 (Latvia, Lithuania, Hungary, Slovenia, Estonia, Slovakia, Poland and Czech Republic) joined the EU.

Brexit is a term commonly known as Britain exiting from European Union membership. The historic referendum on the UK and EU membership held on June 23, 2016. Although majority of Londoner wanted to stay with EU, 52 percent voters voted to support the leave campaign to leave European Union. Since World War two the world saw a rising trend of economic development and globalization in Europe. Brexit has ended this trend. Since United

Although the final bill is not known, one thing is clear EU leaders will want to show there is a price for leaving the EU, while the UK will try its hardest to minimize it. With such large sums at stake there is plenty of negotiating to

On the other hand, the pro-EU party hold opposite opinions relative to Eurosceptics party. On the political front, the European Union is based on the law. Briton protected by the EU employment laws and social protection. Once UK secede from the EU means that Briton no longer protected by the European Union law (BBC, 2015). Then, EU is an important trading partner to Britain, seceding from EU, Britain have to face trade barrier, which means UK have to pay the tariffs when import and export (BBC, 2015). Furthermore, with the international manufacturers transfer to the low-cost countries inside the EU, UK would lose a large number of employment opportunities.

Britain withdrawing the European Union has always been an ongoing discussion, one of the many goals pursued by some British political parties, along with groups of people and individuals. Leaving the European Union is a right that every country that is part of the Treaty on the European Union has (Article 50 of the treaty), and this is what the Conservative political parties that proposed the referendum are triggering to impulse a faster withdraw from the EU; specially the new prime minister Theresa May. There had been another referendum in 1975, but it resulted in

Recently we have all become aware of the fact that Brexit has come as a shock to everybody. This unprecedented event caused turbulences both in the UK and in the EU because of it’s political and economical magnitude. As always, a lot of questions related to this topic have invaded newspapers and informative TV programs all over the world asking : “ Is the EU sinking or is it keeping afloat despite UK’s suddenly decision to leave?”. This will only depend on the how both of them manage to keep their sovereignty and succesfull coexist.

According to Kevin Lees, an attorney in Washington, D.C., an exit from the EU would almost certainly exclude Britain from the Transatlantic Trade and Investment Partnership. The TTIP is a major trade pact currently being negotiated between the EU and the US. The trade deal would add about £10 billion to the British economy annually and create thousands of jobs in the long term. The Obama administration has promised that Britain would be denied access to the TTIP if they chose to leave the EU (Geary and Lees, 2014).

In the article by Dhingra et al.(2016), authors gave two possible scenarios on Brexit issue: optimistic and pessimistic. In the optimistic scenario, Great Britain will purchase their budget for country needs and can obtain full success to the EU single market. In the pessimistic scenario, they assumed that UK may not be successful in negotiating with new countries. Along with this, they predicted Great Britain after Brexit will become an independent player and will use their freedom to negotiate with other world powers as China and United States without restriction. According to the Krotz (2017), Brexit will bring three possible scenarios: German hegemon, decline of European integration process and “back to the future”