What’s Brexit ?

What’s Brexit ?

This word is the abbreviation of British Exit, and refers to the UK leaving the European Union. During a vote in June 2016, 52% of British voters decided leave the European Union. Britain had been part of the union since 1973. Their country was even one of the 3 biggest powers in European politics, with France and Germany.

So why did they decide to leave the other European Union countries?

In fact, the British have always had one foot inside the European Union and the other outside. For example, they preferred to keep their currency, the pound Sterling, rather than adopt the euro. They also chose to stay outside the Schengen area, a group of 22 European countries without border controls. And they wanted to keep a special relationship with the United States, which used to be a British colony. Some Britons think that by leaving the European Union, their independence and economy will be stronger. But Brexit will take time: the UK and the European Union will negotiate for at least 2 years. Some even wonder if it will really happen...

Because millions of Britons think their country will get poorer outside the European Union. And some still hope that a new referendum will be organized to cancel Brexit…!

On January 1, 2021, the United Kingdom left the European Union. Four and a half years after the referendum, Brexit is now in place.

What are the consequences of this text? The agreement signed on December 24, 2020 is nearly 1,500 pages long. It contains all the elements that will govern relations between the United Kingdom and the 27 states of the European Union.

Trade, the major issue of Brexit

The main issue in the negotiations concerned trade agreements. The case was major since these exchanges represent around 700 billion euros each year. Brussels and London finally came to an agreement: there will be no quotas or customs duties to be paid on the import and export of goods.

On the other hand, there will be a return of customs barriers. Companies will now have to systematically file declarations to buy or sell products on both sides of the Channel. These administrative formalities had disappeared with the creation of the single market in 1993.

But despite all these consequences the United Kingdom finds advantages for example :

-Control immigration:

Freedom of movement within the EU prevents London from acting on these flows. To compensate, the government has tightened entry criteria for countries from the rest of the world.

-Leaving a vessel taking on water

The never-ending crisis in the euro zone, the renewed dynamism of the British economy over the past two years, confirms them in the idea that it is time to "break away from this corpse" to survive and prosper.

Conclusion and my opinion :

To conclude, brexit is good for the United Kingdom by the government making them less dependent on the European Union but it is bad for the European and economic links established during these decades.

For me, It's a closed door for my studies and I think in a few years the UK will have financial worries just like Europe is now with Brexit

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