INDEX:
S.NO PARTICULARS PAGE NO 1 INTRODUCTION
2 IMPACT OF BREXIT ON BRITAIN’S
Economy
a immigration b Trade and manufacturing industry c Financial servies d Foreign investment e Consumption and property market
3 One month now, what do we know and don’t
4 Impact on Indian market
5 Global impact
6 What can be the future impacts
INTRODUCTION:
What is European union?
The European union (EU) is an economic and political partnership involving partnership of 28 European countries (Austria , belguim ,Bulgaria , Croatia ,Cyprus , Czech republic ,Denmark ,Estonia ,finland ,france ,germany ,Greece ,hungary ,Ireland ,Italy,Latvia ,Lithuania ,Luxembourg ,malta ,Netherlands ,Poland ,Portugal ,Romania ,Slovakia ,slovennia ,spain ,Sweden ,united kingdom) which began after world war 2. The main idea of the union was that countries which trade together are most likely avoid going to war with each other.
It has grown to become a ‘’single market’’ allowing goods and people to move around considering the member states is a single country. It also has its own currency which is used by 19 countries and certain set of rules which are followed by all the members.
What was brexit?
• A referendum was held on Thursday, June 23, 2016 to decide whether Britain should exit (Britain 's exit, hence the term Brexit) or remain in the European Union. • Referendum are votes in which everyone (or nearly everyone) of voting age can take part, normally giving a 'Yes ' or
The European Union is a group of European countries who combined together as allies after WWII for trade and peace reasons. It was established so countries in Europe would not create conflicts with each other to prevent the disaster of the two World Wars. They also signed trade deals to secure the countries in the EU would be financially stable and not go into depression and poverty like most countries did in WWII. Each country in the EU has to provide the EU with money to operate. In return, not only will they see trade with European countries, but the EU budgets will help redevelopment and regeneration of poor areas, seen in
In the past, referendums have been used to make some of the biggest constitutional changes in modern times. By definition, a referendum ‘is a general vote by the electorate on a single political question which has been referred to them for a direct decision’. The very name and use of 'referendums' is thought to have originated in the Swiss canton of Graubünden as early as the 16th century where, to this day, still use a form direct democracy to settle many issues. Traditionally, Referendums were rarely used in the UK but, in recent times, they have been gaining popularity by the public and have also been used more often to decide constitutional changes such as the 2016 EU Referendum and the 2014 Scottish Independence referendum. Since the end
The European Union was initially set up as a means to terminate the conflict that occurred within Europe throughout the 20th century, culminating with the end of The Second World War (WWII) and The Cold War that followed. The EU ultimately aimed to bring the member countries together in order to form an ‘ever closer union’ between the countries of Europe, thus preventing a future battle. The Union started as the European Economic Community (EEC), which was established in 1957, and over the years endured numerous adjustments to form the politico-economic union that we know of today.
A referendum is a vote given to the public which is determined by the government, and is used to help answer an important political or constitutional question to which the public must vote a simple ‘yes’ or ‘no’.
have to agree on one issue. There is also a financial cost of being a
The European Union (EU) is the organization which integrates the countries listed below, both politically and economically. It is a customs union, which is an agreement amongst a group of countries to eliminate trade barriers between them on the movement of goods, services, labor and capital, and also to establish a common external tariff on goods and services coming into the union. The EU evolved from the European Coal and Steel Community (ECSC), which was formed in 1951 as a response to the First and Second World Wars to try to ensure future peace in Europe. This became the European Economic Community (EEC) in 1965, which in turn became the European
A referendum is a form of direct democracy that involves a public vote on a single issue of public policy. It is a way of presenting a debated issue to public decision. The most recent referendum was in the UK; the 2014 Scottish Independence Referendum which asked the question whether Scotland should break away from the UK or not.
David Cameron announced his resignation as Prime Minister after Britain’s vote to leave the European Union. He wanted a new leader to be chosen by October. According to the Wall Street Journal, Cameron’s successes paved the way to his defeat.
For the integration, the intersection of the economic need, life style of the people, and size of the economy must be same. Due to inappropriate way and lack of proper political integration by countries and surge in the national feeling over the common economic goal of the region has adversely impacted the area. European unions is comprised of many countries which include different countries which are in different stage of their economic development
Various events and decisions, such as the devolution of states in the United Kingdom (“UK”) and the formation of the Republic of Ireland, can be argued as being more critical to the development of Britain than a decision to leave the European Union (“EU”). The legal reform of combining the courts of common law and equity can also be argued as being the most significant legal event in British constitutional history. Past Parliamentary decisions affecting the UK’s relationship with the EU, such as joining the EU and domestically incorporating the European Convention on Human Rights, can be argued as having more constitutional significance than the Referendum. Future Parliamentary decisions, such as a Scottish Referendum, could also be a more significant constitutional event by creating a possible precedent for other devolved states or dominions joining the
The roots of the European Union can be traced back to the early 1950’s when a small number of countries made a decision to join together as a way to resolve any potential conflict nurture economic growth and common values across the continent. There was a desire to promote common values and membership was opened to all European countries. Since the inception the number of members has grown from a founding six countries to what we now know as the modern day EU with a current total of 28 countries with a further 8 countries under application review. In 1992, what was then a group of twelve countries, joined together to form the Customs Community Code which was eventually introduced in January 1993. The code effectively merged the individual customs regulations in to a single customs union.
During his State of the European Union address on September 13, European Commission President Jean- Claude Junker called for additional inclusion of the Balkan group of member states, stating that “It is high time to bring Romania and Bulgaria into the Schengen area” and that the “EU must offer credible membership prospects to Western Balkans.” This, however, seemed only to be the begging of his intention for certain countries, such as Bulgaria, which is heavily vetted to become a member of the Eurozone. This effort seems to be supported by Euro-zone leaders, such as Macron and Merkel. They both manifested their interest in helping Bulgaria join the ERM-2 mechanism (commonly referred to as the “waiting room” for the Euro) during Bulgarian
People have created unions many times but not all of them were successful, specifically when we consider alliances among number of countries with different economics, political systems and culture. For instance, last century brought both the biggest collapse and the most promising union in the modern history. Although U.S.S.R has disappeared from geographical maps, some of its members joined another alliance. The European Union (EU) is an economic and political partnership that united 28 countries on the European part of Eurasia and represents a unique form of cooperation among members today.
In 1950, six nations signed a deal to ensure peace among the European countries this followed by European economic communities based on integration theories, that evolved to become the present EU which has 28 members and more than 500 million population its considered as the second largest economy in the world (according to the international monetary fund, 2016).
The European Union (EU) was established in order to prevent the horrors of modern warfare, experienced by most of Europe during the World Wars of the 20th century, from ever ensuing again, by aiming to create an environment of trust with the countries of Europe cooperating in areas such as commerce, research and trade (Adams, 2001). The EU has evolved into an economic, trade, political and monetary alliance between twenty-eight European Member States. While not all Member States are in monetary union (i.e. share the currency of the euro), those that are form the ‘Euro-zone’ (Dinan, 2006). The EU can pass a number of types of legislation, with a regulation, act, or law, being the most powerful. Its ‘tricameral’ (European Union, 2007)