Why Brexit Really Is a Big Deal for the U. why vote brexit 0 0 0 13 6.
Politicians and technocrats of all stripes are trying to reassure Americans that Britain’s vote last week to leave the EU won’t affect them economically. Brexit has already caused a number of dominos to fall. Scotland and Northern Ireland, frightened of being cast adrift from Europe, may vote to leave the U. Far right wing voices that were already gaining steam in places like Germany, France and the Netherlands have been emboldened. Politicians in the latter two countries have already called for an exit vote. 2008 economic recovery, has suffered over the last few years from lackluster sales in a slow growth Europe, as well as being hurt by the dollar’s relative strength to a weaker euro.
But the folks who are telling us not to worry about the economic effects of Brexit on the U. Fed has kept interest rate hikes on hold in large part due to the turbulence abroad, and may be forced to do so now for much longer than it would like. Since 2008, politicians in the U. So, central bankers were left to genetically modify one with super low rates. Donald Trump, or the Leave contingency in the U.
It’s a snowball cycle of diminishing trust, and diminishing economic returns. Britain’s vote to leave the E. But I don’t think it will be the last. TIME may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. Here is an easy-to-understand guide to Brexit – beginning with the basics, then a look at the negotiations, followed by a selection of answers to questions we’ve been sent.
The UK has voted to leave the European Union. It is scheduled to depart at 11pm UK time on Friday 29 March, 2019. The UK and EU have provisionally agreed on the three “divorce” issues of how much the UK owes the EU, what happens to the Northern Ireland border and what happens to UK citizens living elsewhere in the EU and EU citizens living in the UK. It refers to a period of time after 29 March, 2019, to 31 December, 2020, to get everything in place and allow businesses and others to prepare for the moment when the new post-Brexit rules between the UK and the EU begin. It also allows more time for the details of the new relationship to be fully hammered out. Free movement will continue during the transition period as the EU wanted.
Do we know how things will work in the long-term? Negotiations about future relations between the UK and the EU are just beginning. Both sides hope they can agree within six months on the outline of future relations on things like trade, travel and security. If all goes to plan this deal could then be given the go ahead by both sides in time for 29 March 2019.
The UK government and the main UK opposition party both say Brexit will happen. There are some groups campaigning for Brexit to be halted, but the focus among the UK’s elected politicians has been on what relationship the UK has with the EU after Brexit, rather than whether Brexit will happen at all. Nothing is ever certain, but as things stand Britain is leaving the European Union. It is a word that used as a shorthand way of saying the UK leaving the EU – merging the words Britain and exit to get Brexit, in the same way as a possible Greek exit from the euro was dubbed Grexit in the past. Why is Britain leaving the European Union?
Thursday 23 June, 2016, to decide whether the UK should leave or remain in the European Union. What was the breakdown across the UK? England voted for Brexit, by 53. Wales also voted for Brexit, with Leave getting 52. Scotland and Northern Ireland both backed staying in the EU. Northern Ireland voted Remain and 44.
See the results in more detail. What changed in government after the referendum? Britain got a new Prime Minister – Theresa May. The former home secretary took over from David Cameron, who announced he was resigning on the day he lost the referendum.