Brexit Literature Review

1133 Words5 Pages
Literature review: In September 2017 Thomas Sampson from The London School of Economics and Political Science wrote a Literature on Brexit. The title of the literature was Brexit: The Economics of International Disintegration. In this literature review I will briefly summarise the literature wrote by Thomas Sampson.
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
…show more content…
Who wanted Brexit? Who voted for Brexit? The main support for Brexit came from a coalition party who was less educated, less financially successful and backed by older conservative voters who saw immigrants as a burden and felt left behind by modern life. These left-behind voters who supported Brexit they did not think of economy of their country. However there is not enough evidence that the leave vote was mainly determined by the desire of taking back the nations control from EU or by the voters who blames EU for their financial and social…show more content…
For example, every country has different currency and different legislation. They follow different set of rules and the value of currency differs from one country to another. According to EU’s rule and regulations member states don’t pay extra tax because they are a part of single access market. But for example another country outside of EU needs to pay tax and there is cost involved when the products or goods cross borders. Since Norway, Iceland and Lichtenstein are not European Union’s member states they pay higher tax to enter in European Union area moreover they are entitled to follow their rules and regulation and their own tariffs. If UK decides to not to be a part of EEA or single access market they will be subject to trade barriers. As a result Britain will loss vast amount of profit which they made when they were part of EU.
Due to Brexit London Stock Exchange crashed and it saw trillions of pounds wiped off from UK’s share market. The share market became volatile. The investors of UK’s share market decided to move their funds to other European share market in Germany and Ireland and France. As a result pound lost its exchange value for the first time in last 15
Get Access