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THINGS YOU MIGHT WANT TO KNOW ABOUT BREXIT

Added on: 19th Dec 2016

 

BREXIT IS A COMBINATION OF THE WORDS BRITAIN

AND EXIT AND IT STANDS FOR THE REFERENDUM

OF THE UNITED KINGDOM'S MEMBERSHIP OF

THE EUROPEAN UNION. IN LAYMAN'S TERMS,

THE DECISION WHETHER THE UK SHOULD STAY

OR LEAVE THE EU WAS PUT TO A VOTE. WITH

A VOTE OF 52% TO 48%, THE UK HAS DECIDED

TO LEAVE THE EU

brexit

 

 

THE BREXIT REFERENDUM HAS HAD A SIGNIFICANT

ADVERSE IMPACT ON THE GLOBAL MARKET. THE

STOCK MARKETS HAVE PLUMMETED AND THE

BRITISH POUND HAS FALLEN, IMPACTING THE

FTSE AND SEVERAL FINANCIAL INDUSTRIES,

INCLUDING THE HOUSE BUILDING SECTOR. EVEN

IN THE US, THE DOW JONES FELL 2.6% IN THE

OPENING MINUTES

british pound

 

 

THE VOTER TURNOUT FOR THE REFERENDUM WAS

71.8%, THE HIGHEST VOTER TURNOUT SINCE

1992'S GENERAL ELECTION

polling station

 

 

DESPITE THE DECISION TO LEAVE THE EU, THE

ACTUAL PROCESS OF BRITAIN LEAVING WILL TAKE

SOME TIME AS THERE ARE OFFICIAL STEPS TO BE

TAKEN NOW THAT THE DECISION HAS BEEN MADE.

THERE ARE MANY THINGS STILL UNKNOWN

watch

 

 

UNTIL A DEPARTURE TREATY IS SIGNED, BRITAIN

REMAINS, IN PRINCIPLE, A FULL MEMBER OF THE EU.

HOWEVER, BRITAIN WILL BE EXCLUDED FROM

DISCUSSIONS AFFECTING ITS EXIT TERMS

EU map

 

 

ARTICLE 50 OF THE TREATY ON EUROPEAN

UNION ESTABLISHES THE PROCEDURE FOR

NEGOTIATIONS BETWEEN THE EU AND THE

MEMBER THAT WISHES TO LEAVE. AFTER THE

UK OFFICIALLY NOTIFIES THE EU OF THEIR

DESIRE TO LEAVE, THERE IS A TWO-YEAR

PERIOD IN WHICH BOTH PARTIES CAN REACH

AN AGREEMENT ON SEVERAL ISSUES OF

POLITICAL AND ECONOMICAL IMPORT

negotiations

 

 

BRITISH PRIME MINISTER, DAVID CAMERON, WHO

WAS IN FAVOUR OF STAYING WITH THE EU,

STOOD DOWN IN OCTOBER

david cameron

 

 

MOST OF THE VOTERS IN SCOTLAND VOTED IN

FAVOUR OF STAYING WITH THE EU. THE

DECISION TO LEAVE THE EU HAS PROMPTED

THE FIRST MINISTER IN SCOTLAND, NICOLA

STURGEON, TO INVESTIGATE WAYS FOR

SCOTLAND TO STAY WITHIN THE EU

scotland flag

 

 

ACCORDING TO THE WALL STREET JOURNAL,

BREXIT WOULD INTERRUPT NEARLY 60 YEARS

OF BRITISH EXPANSION, ENDANGERING THE

ECONOMIC GAINS IT HAS MADE SINCE JOINING

pounds

 


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