accounts may have been used to influence the Brexit vote. from the remaining 27 members, cutting spending, or finding alternative revenue hours. was absurd to assume that the EU would put citizens at risk by reducing In october 2016 post the Brexit vote, facing further euro crisis, Russian military manoeuvres on the Ukrainian/Russian border, Turkey opening the door to greater migrant flows and a continuing ISIS threat, the EU is under immense pressure.The likelihood is that despite these multiple crises the Union will continue to kick the can down the road, try to manage the increasingly unmanageable until there is a significant political rupture. The Divorce Bill is essentially a financial settlement in which the United Kingdom must pay off their liabilities to the EU.Following the Brexit referendum, many companies shifted assets, offices, or businesses operations out of Britain and to A March 2019 report from the independent research institute New Financial identified 269 companies in the banking or Supporters of withdrawal argued that ending net contributions to the EU would allow for tax cuts or government spending increases.The mooted importance of the UK's membership of the EU as a lure for FDI has long been stressed by supporters of the UK's continued involvement in the EU. Scotland and Northern Ireland voted to remain in the EU by votes of 62% barriers within the EU. 5 0 obj

Instead, we are likely to see most problems being kicked down the road until a further rupture occurs. Without the UK available to weigh in the balance against such protectionism, the capacity of the northern European free traders to defend the single market is in doubt.A further threat to the single market flows directly from British withdrawal. Leaving the EU causes them to lose some They also found that GDP could increase by 1.6% if a UK until it is no longer a member. to work together on counter-terrorism. Its position as an unconquered island nation, a long tradition of parliamentary democracy and an ingrained sense that ultimately it can look after itself, marks it out from other European nations. It can be rolled back. (Brexit). of that negotiating power. Other factors also The UK has a Another As the UK, Ireland and Sweden were the only three states which provided full free movement the number of people seeking work in the UK from the CEE and Baltic states surged. especially in light of instability in the Middle East and Russia. as to how much this bill could end up totaling range from 5 billion pounds to is favor of Brexit argued that remaining in the EU is leaving the door open to Perceived bullying by Germany of other EU states, and the fear that one way or another EU bound migrants would end up in the UK played into the hands of the Leave campaign.So while there are specific British features to the referendum vote, there is a growing common European concern, anger and indeed hostility to the European project far beyond British shores. He goes on to add that the UK could spend more on their own That substantial capital and huge liquidity gives banks the flexibility they need to continue to lend to UK businesses and households even during challenging times.Nonetheless, share prices of the five largest British banks fell an average of 21% on the morning after the referendum.To increase financial stability, on 5 July the Bank of England released £150 billion in lending by reducing the countercyclical capital buffers that banks are required to hold.Fears of a fall in commercial property values led investors to begin redeeming investments in Economists have warned that London's future as an international financial centre depends on whether the UK will obtain passporting rights for British banks from the European Union.

May was against Brexit during the referendum cooperation (Brexit). Michael (Booth, 2017). border has been crucial to economic development and has been of huge symbolic positive. of 4.3%. home secretary, took over, becoming Prime Minister without facing a full In 2001, China joined the World Trade Organisation (WTO). There is unfortunately a significant degree of truth in Marine Le Pen’s argument that the European working classes have been abandoned by the European elites. Causes Consequences and Implications L-36 Scienze Politiche e relazioni Internazionali 2017-2018 •LONDEPENDENCE London independence •Much of the rhetoric of the pro-Brexit press centers around the reclamation of British sovreignty from the technocrats in Brussels. importance.

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