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BREXIT

LECTURE BY SHAHZAD HASSAN JAFFAR

What is European Union.


History of European Union
Functioning of European Union
What is BREXIT
BREXIT Polling
Why BREXIT
Effects of BREXIT

WHAT IS EUROPEAN UNION.

I. The European Union (EU) is a politico-economic union


II. Consists of 28 member states that are located primarily in
Europe.
III.It has an area of 4,324,782 km2 (1,669,808 sq mi)
IV. estimated population of over 510 million.
V. President of European Council:- Donald Tusk
VI. President of European Parliament :- Martin Schulz
VII.President of European Commission:- Jean Claude Junker
VIII.Collectively, the EU is the largest contributor of foreign aid in the world
IX. Has a single common Currency:- Euro (however few countries within EU do
not acknowledge EURO and use their own currency (including Former
Member Britain)
X. Has its own internal travelling Visa System called Schengen Passport/Visa

History of European Union

1. After world war II need was felt for a collective European effort to
remove nationalism and to promote trade, bilateral cooperation
2. The Creation of European Coal and Steel Community was the first
step in the creation of the later European Union (9 May 1950)
3. In 1957, Belgium, France, Italy, Luxembourg, the Netherlands and
West Germany signed the Treaty of Rome, which created the
European Economic Community (EEC) and established a customs
union. They also signed another pact creating the European Atomic
Energy Community (Euratom) for co-operation in developing nuclear
energy. Both treaties came into force in 1958.
4. The European Union was formally established when the Maastricht
Treatywhose main architects were Helmut Kohl and Franois
Mitterrandcame into force on 1 November 1993. The treaty also
gave the name European Community to the EEC, even if it was
referred as such before the treaty.

FUNCTIONING OF EUROPEAN COMMISSION

The European Parliament:


the voice of the people
The European Council:
setting the strategy
The Council:
the voice of the Member States
The European Commission:
promoting the common interest
The national parliaments:
enforcing subsidiarity
The Court of Justice:
upholding EU law
The European Central Bank:
ensuring price stability
The European Court of Auditors:
helping to improve EU financial
management
The European Economic and Social Committee: the voice of civil society
The Committee of the Regions:
the voice of local government
The European Ombudsman:
investigating your complaints
The European Data protection Supervisor: protecting your privacy The European
The European Investment Bank:
Investing in the future
It is also to be noted that EU is forming its own military alliance on the model of NATO but
as NATO is currently the biggest military alliances containing 60 percent of Europe so the
implementation is slow.

WHAT IS BREXIT???????????
Brexit (and its early variant, Brixit), is a
portmanteau of "Britain" and "exit". It was
derived by analogy from Grexit. The term Brexit
may have first been used in reference to a
possible UK withdrawal from the EU by Peter
Wilding in a Euractiv blog post on 15 May 2012.

There has been a campaign from several years whether the Country should
remain a part of European Union or should opt to Leave the Union. The
country has been divided into different groups each fighting in favor or
against the move.
In a speech to the House of Commons on 22 February 2016,[25] Cameron
announced a referendum date of 23 June 2016 and set out the legal
framework for withdrawal from the European Union in circumstances
where there was a referendum majority vote to leave,

REFERENDUM DATED 23rd June 2016 The Exit


route of Britain
A referendum - a vote in which everyone (or nearly
everyone) of voting age can take part - was held on
Thursday 23 June, to decide whether the UK should leave
or remain in the European Union. Leave won by 52% to
48%. The referendum turnout was 71.8%, with more than
30 million people voting.
England voted strongly for Brexit, by 53.4% to 46.6%, as
did Wales, with Leave getting 52.5% of the vote and
Remain 47.5%. Scotland and Northern Ireland both
backed staying in the EU. Scotland backed Remain by
62% to 38%, while 55.8% in Northern Ireland voted
Remain and 44.2% Leave
THE RESULTS OF REFERENDUM WAS A CLEAR SIGNAL
OF A HUGE GENERATION GAP, WHILE THE YOUNG LOT
WERE IN FAVOR OF BEING A PART OF EU, THE OLD
BUSINESS ELITES, POLITICIANS AND LEADERS WERE
OPPOSED TO THE IDEA OF BEING A PART OF EU

SUPPORTERS VERSUS OPPOSERS


Then Prime Minister David Cameron was the leading voice in the Remain
campaign, after reaching an agreement with other European Union leaders
that would have changed the terms of Britain's membership had the country
voted to stay in. He said the deal would give Britain "special" status and
help sort out some of the things British people said they didn't like about the
EU, like high levels of immigration - but critics said the deal would make
little difference.
Sixteen members of Mr Cameron's Cabinet, including the woman who
would replace him as PM, Theresa May, also backed staying in.
The Conservative Party was split on the issue and officially remained
neutral in the campaign.
The Labour Party, Scottish National Party, Plaid Cymru, the Green Party
and the Liberal Democrats were all in favour of staying in.
US president Barack Obama also wanted Britain to remain in the EU, as did
other EU nations such as France and Germany.
All the young graduates, students, employees wanted Britian to stay in EU

BASIC REASONS FOR SUPPORTING

Those campaigning for Britain to stay in the EU said it gets a big


boost from membership - it makes selling things to other EU
countries easier and, they argued, the flow of immigrants, most
of whom are young and keen to work, fuels economic growth
and helps pay for public services.
They also said Britain's status in the world would be damaged by
leaving and that we are more secure as part of the 28 nation
club, rather than going it alone.

OPPOSERS

The UK Independence Party, which received nearly four


million votes - 13% of those cast - in May's general election,
has campaigned for many years for Britain's exit from the
EU. They were joined in their call during the referendum
campaign by about half the Conservative Party's MPs,
including Boris Johnson and five members of the then
Cabinet. A handful of Labour MPs and Northern Ireland
party the DUP were also in favour of leaving.

REASONS
a. They said Britain was being held back by the EU, which
they said imposed too many rules on business and
charged billions of pounds a year in membership fees for
little in return. They also wanted Britain to take back full
control of its borders and reduce the number of people
coming here to live and/or work.
b. One of the main principles of EU membership is "free
movement", which means you don't need to get a visa to
go and live in another EU country. The Leave campaign
also objected to the idea of "ever closer union" between
EU member states and what they see as moves towards
the creation of a "United States of Europe".

Some estimates suggest the total economic cost of EU


membership is around 11 per cent of our annual GDP which
makes it something like 200billion. Brexiters say this money
would be better spent on new British industries and scientific
research.
Without the EU, Britain can independently pursue international
trade deals with China, India and the US.
A particular issue for Brexiters is the Central Agricultural
Policy (CAP), which they see as wasteful and expensive.

OTHER IMPLICIT REASONS FOR LEAVING EUROPEAN UNION

1. POLITICAL AND STRATEGIC


2. RELIGIOUS
3. MILITARILY

EFFECTS OF
BREXIT
At the moment as the future of Britain and EU is
uncertain therefore analysts are of the view that
effects cannot be predicted but they have based all
their predictions upon assumptions

SHORT TERM

1. The Value of Pound Sterling has declined to its


recorded history
2. The prices of Real estate has decreased from
20-25 percent in Central London.
3. Many business giants have decided to windup
their ventures inside Great Britain
4. GB was one of the largest importer of car
accessories from EU, the action has compelled
the automobile manufacturers to now rethink
about their ventures inside GB.
5. GB is considered as the largest center of

The weaker pound brings other benefits. Yet the pounds


fall will help simultaneously recondition Britains gigantic
balance sheet and balance our trade. Because of its large
financial industry, the UK both lends and borrows a vast
amount abroad. Its tends to borrow from the world in
pounds, however while it lends abroad in euros, US
dollars and other foreign currencies. A sharp fall in the
pound therefore has the effect of suddenly boosting
Britains net worth, by making its assets more valuable
relative to its liabilities.

Long Term Effects of


Brexit
1. Relations between EU countries and GB will be revamped.
2. Europe may again fall into the old sectarian divide that it has
experienced in history
3. Scotland and others may demand for a referendum for an
independence as these states were in the favor of being part of EU
4. Power shift In EU. More likely France or Germany will take as the
leader in EU
5. Many large companies will shift from UK to other countries
6. USA may have to rethink and re assign its relations with EU and
may have to rethink about a new partner in Europe other then UK.
7. There would be an end to the free movement of people from and to
GB from other parts of Europe.