B R E X I T AND THE EUROPEAN UNION
D A V I N A G A M I
With a narrow verdict of 51.9 % voting Leave and 48.1 % for Remain, it is clear that what is purported to be a ' united ' kingdom is a divided nation.
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A major event that shook the world in 2016 was indisputably the British decision to withdraw from the European Union. It was a vote that was both unexpected and unprecedented, by all sides of the campaign. The decision made on the 23rd June to exit one of the world’ s most prominent trading blocs will have repercussions Britain’ s economy, as well as that of the EU, only those repercussions are unknown and unpredictable.
The unforeseen referendum result has not only had immediate repercussions on Britain’ s economy but also on the future stability of the European Union. The EU would lose one of its largest, most important members, with the UK economy being the second largest in the EU, being a sixth of the entire EU economy with a net contribution to the EU being £ 8.5 billion.
However, considering Article 50 is yet to be triggered in 2017, and the process is set to only be finalised in 2019, it is hard to predict what will happen and uncertainty will be the