What is Brexit?
The exit of Britain from the European Union has been referred to as “Brexit.”
This combination of names has come into politics right out of Hollywood where celebrity couples names are often combined to get one name. In June this year, the people of United Kingdom voted to show whether they wanted United Kingdom remain a member of the European Union or leave the European Union. This is the first vote of its kind in the history of the economic and political bloc in United Kingdom.
Why was it necessary to have a vote?
United Kingdom joined the European Union in 1973, and has 73 representatives there. But of late the relationship between the two has not been too good and the United Kingdom prime-minister Mr. David Cameron promised to hold a referendum regarding the issue, if he was re-elected as the prime minister in 2015. Once he was elected, his own conservative party and the United Kingdom Independent Party (UKIP) decided to go for the vote to see whether the people of United Kingdom wanted to remain in this European Union or not.
Who all could vote?
People who are already registered voters of United Kingdom can vote, Commonwealth citizens living in the U.K. as well as Gibraltar can vote, British citizens who have been living overseas but have registered to vote in the last 15 years can vote and Irish citizens who were born in Northern Ireland are eligible to vote for this referendum. Voting by post or by proxy was possible and some airlines even offered attractive sales strategies to help people get home to vote. This move was quite popular and many opted to fly home to cast their vote.
Why U.K wants to leave the EU?
The main reason as to why U.K. wants to exit this Union because:
•It has lost control due to the bureaucracy in the EU
•It is not happy with the huge sums of money sent every week to Brussels the capital of the EU
•Immigration from other European countries
•They want to have greater control over their economy
Why people want to remain in the Union?
Many people are still for the European Union and their reasons to remain in the Union are:
•U.K. is stronger, safer and better off in the Union than alone.
•British jobs and trade are tied to the EU
•EU adds millions of dollars to the British economy every year.
Some celebrities and their opinion on stay or leave the EU
Celebrities and political parties have voiced their opinion on whether they want to leave or remain in the EU. Celebrities like David Beckham, Daniel Craig and the conservative party wants to remain in the EU, but celebrities like Elizabeth Hurley and the UKIP party want to exit the Union. Business like Coca Cola and JP Morgan and Chase want to remain in the union fearing economic implication of Britain outside EU.
What happens if UK votes to leave?
If UK happens to leave EU people don’t really know what will happen. If they leave predictors say that pound could weaken against dollar. There is also a worry about its impact and uncertainty in the financial markets around the globe.