With Britain's recent departure from the European Union it comes into question how the two parties will be affected. In the article titled A Texas-Size Defeat for the EU: Brexit is Here, the author compares the separation to Texas leaving the United States. While the article mainly focuses on the European Unions side of things it's noted that both parties are in for troubles. The European Union hopes that it can maintain a close relationship with Britain but a lot of internal factors need to be handled as well.
Economically, Britain was the leading economy for the European Union, with their departure there is fear that the other strong nations such as Germany and France will be unable to keep the regional unit afloat without the help of the United Kingdom. It also comes into question how trade will be handled between the two now given that the European Union has made up around 50% of the United Kingdoms imports and exports during their time in the EU. Finally politics come into play, the United Kingdom held a large amount of pull when it came to decisions in the European Union and without them there is a noted fear that tensions between other member countries may rise due to the United Kingdom no longer playing an intermediary. The one thing that is positive for the European Union is that there is little to no fear that other member countries are going to be leaving the EU any time soon. The United Kingdoms separation from the EU was nothing less of an internal struggle for Britain and this has led other member countries to see it as much more of a hassle then a way out at the time being. Only time will tell the fate of these two but until they both find an equilibrium internally, their relationships with each other may be strained.
https://www.nytimes.com/2020/01/29/world/europe/brexit-brussels-eu.html?searchResultPosition=1
1 comment:
The UK leaving the EU has definitely been a controversial topic that has taken over the EU. If the UK leaves, the EU takes a major hit because the UK is one of the largest contributors to the EU's budget. In 2016 alone, the UK contributed 13 billion pounds. Being separated from the EU would definitely be cost efficient for the UK. However, if Brexit is successful that means that the UK would have to renegotiate its trade deals with members nations of the EU since it would no longer be apart of the union. More recently, there has been an ongoing debate about the economic forecast of the EU if Brexit is successful. One side of the debate have even been claiming that three million jobs would be lost if the UK decided to leave. There are tons of pros and cons , it'll be interesting to see how it all plays out.
Post a Comment