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A new word was made – Brexit – which is a short way of saying “the UK leaves the EU” by mixing the words Britain and Exit.
However, what does Brexit really mean and in what manner will it influence all of us?
The EU is an economic and political union who are involving 28 countries. Every one of these nations pays to be a part and consequently they gain access to special ways of working together. People of these countries can trade with one another and move freely, as if they are living together in one big country. The UK joined in 1973 after World War 2 with the idea if countries work together; they are unlikely to go to war again.
However, vote was held on Thursday 23 June 2016 which is to decide if the UK should leave or remain. The leave had wined by 52% to 48%. The referendum turnout was exceptionally high at 72% with more than 30 million voting whereas 17.4 million people stood in the side of Brexit.
The 48 percent who wanted to remain in the EU, including previous Prime Minister David Cameron consider that being a member from a 28-country club is better than going alone. They believe it was simpler for us to sell things to other EU nations which mean it was useful for organizations and trade.
So for what reason did over portion of voters in the UK require leaving European Union?
The possibility of the single market was to expand trade between nations, making employments and lowering the prices. However, the European Parliament chooses numerous principles and standards that EU nations need to pursue and critics felt that we were losing control of our own affairs and laws.
The UK pays billions of pounds in membership fees to the EU consistently and a few people trust that we weren’t receiving much back in return for this.
Additionally, numerous individuals are moving from poorer nations to richer nations around the globe. This has made a few people in the UK stress over the free movement rule, which enables individuals in the EU to move to any other EU nation without requiring special permission. This was a key issue for some voters and the Leave campaign won by only 4 percent.
When the referendum had occurred, new Prime Minister Theresa May needed to trigger a unique arrangement called Article 50, which she did on 29 March 2017. This is a formal way for informing the European Council regarding the UK’s plans to leave the EU.
Once Article 50 was activated, an agreement from the UK parliament is required to be agreed by Theresa May. This has occurred and the UK government is now in discussion with the EU to decide exactly how the split should happen. This is a complicated process as all the remaining 27 nations’ parliaments require agreeing with the deal.
However, the European Union (EU) has decided to expand the Brexit deadline until 31 January 2020.