The Decision Of The Uk For Leave The European Union Essay

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INTRODUCTION

The Brexit referendum on June 23, 2016 was an unprecedented global development. It is the decision of the UK to leave the European Union. It is expected to have considerable socio economic and political ramifications in the years ahead. It assumes greater significance in context of the changing global order, which is moving towards greater multilateralism and where countries are striving to lower their boundaries.
The effect of the Brexit has already started effecting UK already. It would be a major negative shock to the UK economy, with economic fallout in the rest of the OECD, particularly other European countries. In some respects, Brexit would effect tax on GDP, imposing a persistent and rising cost on the economy that would not be incurred if the UK remained in the EU.

On June 23rd Britain held a referendum on whether to remain in or leave the European Union. It was the country’s most important vote in at least half a century. Alas, the debate was often neither informative nor enlightening. The economists have predicted to have huge effects on the UK economy.

What’s the Brexit all about?
Brexit is an abbreviation for "British exit,” referendum whereby British citizens voted to exit the European Union. The referendum roiled global markets, including currencies, causing the British pound to fall to its lowest level in decades. Prime Minister David Cameron resigned on July 13 as a result. Home Secretary Theresa May, leader of the Conservative Party,
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