As many of you in this class know, Britain’s former prime minister chose to leave to its citizens, through ballot, the option whether or not Britain should stay in the European Union or leave. This major reform, otherwise known as Brexit, was successful due to the fact that majority of the citizens wanted out of the European Union. Many of them voting “yes”, fearing the fact that millions of immigrants where entering Europe and would cause a severe disruption to their daily life. Britain citizens were also “mad” because fake news told them hundreds of millions, if not billions, of dollars were lost because Europe Mainland were taking them.
After Brexit was passed, the former Prime Minister resigned from the position causing a major disruption to the region’s politics. After, the new right-wing Prime Minister was elected named Theresa May. She led with the idea that she would unite Britain again and lead Britain through Brexit. She failed.
Talks with the European Union are shortly coming to an end, where they require Britain to have an exit package. Theresa May, without the ability to unite politicians, has failed miserably to pass Brexit even in the country that voted in favor of it. With a few months left in the timeline, she needs to give something to the European Union or everything will burst into flames.
The biggest unintended consequence of Brexit is the following: London, a city that once used to be the Finance capital in Europe, is loosing billions of dollars due to the fact that banks and investment firms are fleeing uncertainty. They’re leaving London and choosing a new finance hub in Mainland Europe, where some candidates are Madrid, Berlin, Paris, Amsterdam, Frankfurt, Brussels, and Dublin.
We need to see if the Politicians from the European Union and Britain come into an agreement on the exit package. And if they don’t, will Great Britain suffer from this wildly controversial referendum? More to see later on…
References and for further information:
– Daniel, Ellen. (2018, September 2011). Which cities could be the new financial centre of Europe after Brexit. Retrieved March4, 2019 <https://www.verdict.co.uk/financial-centre-of-europe-post-brexit/>
– Mueller, Benjamin. (2019, February 25). What is Brexit? A Simple Guide to Why It Matters and What Happens Next. Retrieved March 4, 2019 <https://www.nytimes.com/interactive/2019/world/europe/what-is-brexit.html>
– Picture = https://www.bbc.com/news/uk-politics-32810887
Great article. I was personally in London for an internship the day British were taking a vote and most of my colleagues were devastated with the results. As you said the City of London used to be the Financial Capital of Europe. As Great Britain is leaving the European Unions new deals have to be made. However, we are talking politics now, and as every party is right (or at least that is what they think) the process is kind of stuck. The right wind, more nationalist, feels the negotiation is resulting in prejudicial for Britains interests. The United Kingdom must pay a $65.000 million (USD) fine in order to leave the EU which would be harmful to the UK. This is not the only thing to have in mind. What about immigration policies? What will happen to EU citizens living in the United Kingdom? And what about the millions of UK citizens living in European Union countries?