Pros And Cons Of Brexit

The issue of whether or not the United Kingdom should remain a member of the European Union has been debated heavily over the past decade, with the debate heating up even more from the current European Sovereign Debt Crisis. Recent polls of the UK population showed that around half of the UK’s citizens would vote to pull out of the EU if it went to referendum. However, after all of the economic, political, and social advantages of being a member of the EU are considered, it remains clear that leaving the EU is not in the UK’s best interest. Economically, it does not make sense for the UK

The decision of the United Kingdom to leave the European Union has served in reshaping the way politics works in Europe. On June 3rd, 2016 a massive 30 million people came out to vote on the future of their countries. In the end, the vote to leave won 51.9% to 48.1%. Places like England and Wales both voted in favor of the exit, while Scotland and Northern Ireland voted overwhelmingly to stay in. While the long term effects of this decision obviously need time to be observed, the immediate economic impact has been somewhat mixed. The day after the vote was a cause for concern in that “the pound slumped after the referendum - and remains around 10% lower against the dollar and 15% down against the euro” (Wheeler 17). In contrast to this,

This report will look at the benefits and issues surrounding the UKs decision to remain as a member state of the European Union (E.U.). Along with the newly elected conservative government, came the announcement that a nationwide referendum would be held, by the end of 2017, in order to determine the British public’s stance on the issue of EU membership.

The public was bombarded with warnings about how they would be poorer if they voted to leave the EU but, in the end they weren’t convinced by what they were told and/or believed it was a risk worth taking . For the Confederation of British Industry, the International Monetary Fund, the Organization for Economic Cooperation and Development, the Institute for Fiscal Studies, there was an alphabet soup of experts lined up to say economic growth would be hobbled, unemployment would go up, the pound would plummet and British business would be left in a no man’s land outside the EU . Overall, since UK left the EU they will be able to profit more and help their people to get out of unemployment and rebuild their country.

The first reason why Britain shouldn't leave the EU is because it would hurt trade. A major benefit of the EU is the trade. Combined, all the countries in the EU have a large influence over world trade. This allows them to get more money for other EU countries.

The European Union was established as an economic and political partnership between 28 European Countries (European Union, 2015). The UK has been stayed in the EU for over four decades from 1973 to now. In 1975, Labour Prime Minister Harold Wilson had ever held a referendum on Britain’s membership in the EU and the voting result is to stay in the European Community. Recently, the article (BBC NEWS, 2015) reported that the UK has a plan to hold the second referendum by the end of 2017 to decide whether or not the UK should stay in or leave the European Union. This might be a significant referendum that may bring lots of impacts on the UK’s economy.

On 23rd June 2016, more than 30 million people, 71.8% of the British population turned up to settle the question that had been looming around British politics for years: Should the United Kingdom remain a member of the European Union or leave the European Union?

I have come to the conclusion that my hypothesis is valid, it would be disastrous if the UK decided to leave the EU.

The future of the United Kingdom has never been so uncertain. The British Prime Minister, David Cameron, is keeping the promise he made in 2015, to hold a referendum on whether or not the United Kingdom should remain a member of the European Union. The referendum will take hold on Thursday, 23rd of June of this year. But the results of the last opinion poll held on April 12th to 14th, show, that the British public is fairly evenly split, as 40% want to remain in the European Union and 39% want to leave. The members of the United Kingdom Independence party and other British keen to leave the Union, argue that the UK and its policy makers are being held back and manipulated by the EU, who make too many rules for business, immigration laws and charges billions of pounds a year in membership fees for little in return and undermining the British interests. However, the UK’s investment in the membership and acceptance of rules of the EU, gives the UK far more benefits by allowing it to grow academically, economically and ensures safety for all its citizens and is therefore better off staying a member of this peacemaking Union.

At present, there’s a lot of uncertainty surrounding BREXIT, what is certain is that there will be an increase in restrictions and introduction of political borders should BREXIT were to happen which will result in an increase in cost of trade and services. EU remains the largest market for Britain's exports, constituting 40-45% of its exports. As such, UK's primary goal would likely to retain access to the EU's internal market, but in all likelihood it would be difficult to gain liberal trade terms from the EU if BREXIT

On June 23, 2016 a referendum was held to decide Britain’s fate in the European Union (EU). The voters decided to leave the European Union, commonly referred to as the “Brexit”, leaving many surprised as the polls have shown otherwise. The preliminary aftermath of this development is now evident for the UK and the EU, with much speculation on its outcome on the market, immigration, and ultimately, the economy. For this real-world case, the appropriate lens to describe this event is with the approach of political realism through parsimony.

Over the last few years, the probability that Britain may leave the EU has grown. Prime Minister of the United Kingdom David Cameron announced a referendum concerning British membership in the EU to be held on June 23. Essentially not all the changes, which may occur, can be reduced to the question of money, since the problem has a strong political context. Still, this essay is mainly focused on economic aspects of the possible exit. Many experts regard the EU membership as generally beneficial for the UK; still there are some significant drawbacks. At the same time, there are factors that limit any possible prediction of the economic consequences of the British exit from the European Union. Nonetheless, in this work main areas affected by

Firstly, it must be established exactly why withdrawing from the EU would be a poor decision for the UK to make. This will be accomplished by critically assessing the main arguments for withdrawal in order to remove the gild that the public’s misinformed perception has coated these arguments in, which has led to recent polls finding that a “Vote today would see Britain exiting [the] EU” (Orb International, 2014, cited in Shipman, 2014).

There is no doubt that the ‘brexit’ will have a significant impact on UK, especially for the financial system. In the following few days after referendum, the financial market shows the immediate impact of ‘brexit’, the sterling exchange rate index sharply fallen by 9%, the bank equity price had fallen by 20%, the ten-year UK government bond yield had fallen by 52 basis point. In its latest financial stability report, the Bank of England had identified that the risks around the referendum on the United Kingdom’s membership of the European Union as the most significant near-term domestic risks to financial stability. (‘Financial Stability Report’ Bank of England, 30 July 2016). The following risks around referendum are considered main threaten to UK’s financial stability:

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.