Brexit is a combination of the words Britain and exit as it is said as the formal living of Britain from the European Union. Britain was subjected to the regulations of the EU and had long acted as a sovereign Nation refusing to adapt to economic and immigration policies.
The European Union poor handling of the 2008 financial crisis and the terrible economic static of Great Britain and help them realize that membership in the European Union was dangerous.
For this there was an article 50 a plan for any country that wishes to exit the European Union to do so, it was created as the part of the Treaty of Lisbon and agreement signed up to by all the European States which become law in 2009 the entire article 50 process takes about 2 years, and Britain is due to officially leave the EU on March 29, 2019. Brexit has become a great economic and political referendum since the decades.
Votes for Brexit
Votes for BrexitFor the Brexit there was a voting system that has been done between the people mostly they were opportunity to everyone to take part in this voting and the voting was held on June 23, 2016, to decide that whether the UK should leave or remain in the European Union and according to their vote mostly people voted to leave the EU approximately 51% of votes got to leave.
The election that has been pitted has old against the young almost 75% of the voters are age of 18 to 24 they want to stay in the Europe Union the younger generation liberal thinking on economic reform and immigration lead them to want to stay in the EU as the older generation, however, disagreed with this and ultimately carried the vote they showed up in greater numbers and carried the day.
After the voting of the Brexit and people voted for leaving of them from the EU, there were about net Migration of 180,000 highest recorded level. Most people wanted to leave the European Union and form a Brexit.
The Economy condition after Brexit
After Brexit, there was expected to be an immediate economic crisis this was partly true as the Pounds slumped the day after the referendum, but it has now regained its losses against the dollar while remaining 15 percent down against the euro.
But after that the prediction that has been made of the economic loss other than the loss the UK economy has been grown up to 1.8% as the leading industrialized nations.
After that there has become many uncertainties of job in banking as they have only could move 1000 trading jobs they cost losing in the industry standard negative impact on Brexit.
It is only the start of the Brexit, and its effects are likely to become more obvious in the long term it has been not necessarily a good thing but depends on the type of Brexit negotiated the government hasn’t revealed. The UK will need to adapt to whatever the results are and can do so by doing numerous things.
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