‘Brexit’, despite not being an actual registered word (yet) is practically unavoidable these days, Britain, after a long lasting (42 years) relationship with the EU has voted to leave. With article 50 passed and Britain officially out of the EU, what exactly does this mean, for us and for Britain?
1: The vote was very close, and split by country:
Many of you may know this, but despite the vote to leave the EU being a majority one, it wasn’t an overwhelming majority, with only 51.9% of voters opting to leave.
Also, while England and Wales voted to leave the EU, Scotland and Northern Ireland voted to stay. The close-call nature of this vote may make one wonder if many in Britain still want to be a part of the EU, something quite difficult now.
2: Brexit affected the rest of the world:
After Britain’s decision to leave the EU, the global stock exchange was affected. International stock markets plummeted (temporarily, they’ve since bounced back slightly). The value of the British pound went way down and major U.S markets dropped in value within minutes.
3: People felt very strongly about it:
The voter turnout for the Brexit referendum was very high, at 71.8%. This voter turnout may go some way to describing how strongly people felt about this matter. This turnout was the highest since the 1992 British General Election, a year that involved the ‘Maastricht Treaty’, another major European Treaty.
4: It’s not really known if it will be beneficial or not:
Even though it’s been a while since the Brexit vote passed, many are still unsure if Britain will benefit in the long run. Of thirteen analysts, eight believe that Brexit will negatively affect Britain, five believe that it will be positive and two believe the results will be mixed. Recent news over the potential cost of Britain returning to the blue (non-EU) passport might swing a few towards the negative side.
5: It’s representative of a good portion of the rest of the world:
It’s not only Britain that’s experiencing a new desire to become fully independent. Countries like Germany, Hungary, France and Italy all contain political parties that wish to see a departure from the EU. This fact means that Brexit may have begun a chain of potential (insert)exits, a fact that will rightly worry some (including me).
To wrap up, I hope this article has given you, the reader, some insight into the much-discussed phenomenon of Brexit, and if you already knew these facts, I hope I have reignited your interest in a topic that is far from finished.