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One of the trending topics that have been in talks with the people is Brexit, which means the possibility of Britain people to leave the European Union. A referendum was being held on 23 June to reach a decision whether Britain should leave or remain in the EU (European Union). Well, the results are out just a few hours back, and the UK finally votes to leave the European Union. The people of the countries like England, Northern Ireland, Scotland, and Wales among others have voted for Brexit, and the majority of them have chosen UK to leave EU. So, the questions, now, that everybody has on their mind is that “what will happen now?”, “how will it affect the Britain’s economy?”, “how it would impact the European Union, both economically and politically?”, and its impact on the trading relationship, jobs, and travel. You must be thinking of these questions! Right? Well, obviously, it will have a great impact, which we will discuss here in detail.

But, Wait! Before we begin, let’s clear the meaning of some terms, which many people might find confusing. Are you confused about the terms of EU or referendum? Well, here we go..

European Union (EU)

The term European Union, which we often call EU, refers to a political and economic partnership between 28 European countries. The purpose of this partnership was to prevent any war between the countries as trading together signifies the economic cooperation.

Referendum

It actually refers to a process of voting where everyone of voting age can vote to reach to a direct decision. In this case, The people of the European countries voted for whether the UK should leave EU or not.

Let’s now discuss in detail about what this Brexit win would lead to. Let’s explore!

Brexit Impact on EU

As the UK has finally left the European Union, according to the results driven by the poll, the departure of UK will have a high effect on the inner workings of EU. It will have an impact on the power of the Franco-Germain alliance on European affairs. Moreover, it will give rise to the concerns with respect to the common security policies of EU. A Brexit has the power to diminish the international standing and lessen the integrity of the European Union.

The departure would actually impact EU in the areas of EU’s integrity, power imbalance, defense and Security, and economic impact.

EU’s Integrity

A recent British exit from EU may open the path for other European Union member states to get into the suit. The extent of the Brexit impact will actually depend on the success of Britain post EU exit.

Power Imbalance

A Brexit is considered to be a huge loss as Britain, in EU, was one of the most economically liberal member states. This, thus, may result in the huge power imbalance when we talk about the political equilibrium in the European Union.  The absence of the British influence will help Germany to strengthen its position in the European Union. Moreover, it would help Germany create a European political model in line with its likeness.

Economic Impact

A Brexit signifies a loss of the Anglo-Saxon (people who inhabited Great Britain) economic influence. On the whole, it will result in the loss of a prop competition, free trade, free market, and an authentic western market economy power. It will ultimately result in the loss of a voice for EU integration. As the decision has been taken in favor of Brexit, it might result in the shift to the protectionist European Union market, which may consolidate.

Defence & Security

The departure of UK can result in weakening the European security and defence. It might also result in diminishing the input associated with the European side of NATO (North Atlantic Treaty Organization). The general defence and security infrastructure will have an impact on the world’s most efficient military powers. There is a possibility that Europe might turn out to be a multi polar, which will not remain a pillar of world affairs anymore. It would now be a fragmented territory that would be forced to follow the policies of Russian, Asian, or the US.

Political Background

Germany was not at all in favor of Brexit and was looking forward to keeping the UK in the European Union. Yes! Germany doesn’t crave for acquiring the dominating power in the Europe. The French Government, on the other hand, has the chances of losing its privileged relationship  with Germany. The country would not favor the exit from the Anglo-German political alliance. A number of member state officials wish that the result of a Brexit should not affect any fundamental right associated with the EU charter.

Trading Relationship

The new trade deals are now required to be stricken with the EU. However, the assessment of how easy it would be depends on the interpretation. The departure of UK will now marginalize the liberal demographic project for Europe. This is because the European Union will now be dominated by the corporatist associated with the French as well as German elites. As the single market of the European Union would be a dominating trading partner, it has a high effect on the United Kingdom. Ultimately, you would have to follow the rules associated with the EU’s single market in order to manage the selling of goods and services to the continent.

Impact on Family Travel

A Brexit would result in costlier family holidays to all the European Union destinations. The favor of Brexit will now increase the rates by around £230. Leaving the EU would make life more costly and difficult, and it will, thus, result in a less pleasant journey for both travelers as well as holidaymakers. So, what do you think would be the most affected areas? Well, the first one would be with higher air fares, which, people would definitely not appreciate. The ability of the European Union countries to work together ensures the best possible security, which will not be the case now. The holidays of the travelers would be as safe as it would have been before.

A Brexit might result in weakening the euro in line with the value of the pound that it undermines. A Brexit will now have an impact on the benefits provided by European Health Insurance Card, by means of which, UK citizens used to get free or less expensive treatment in all the RU countries. Such terms and conditions would now have to be reconsidered and the guarantee of the same result will not be provided. As far as Visa applications are concerned, they could be expensive and lengthy, and the travelers would not be able to use the Health insurance card of the EU. Another impact that a Brexit might have is the higher mobile phone roaming tariffs. All in all, a Brexit will have a direct impact on the ability of the people to travel, work, or live in Europe.

Impact on the Jobs in Europe

Having the membership of the European Union allows you to work and live in any of the 28 countries of the EU. That being said, an individual willing to work in France or Germany can work in line with the same terms and conditions as citizens there, which doesn’t need any kind of special visas. However, that would not be the case now, which will have a direct impact on the jobs opportunity for the people in Europe. The young slot of pe
ople would not be able to choose from a wider pool of jobs, as earlier. Well, people will now find it harder to acquire a job abroad.

Impact on the jobs in the UK

Well, as mentioned by several international financial organizations, the effect of the jobs in the UK would rely on the economic impact. It will depend entirely on the economic reversal obtained by the move taken to leave the European Union. By this, we mean that Brexit, in case suffers a recession, will have a direct impact on the career of the youngsters. Obviously, the graduates entering the jobs market during the recession will make them suffer from the job crisis the most. The recession in Brexit will affect the lives of young and low-skilled individuals, especially the people under 30s.

Alternatively, a result of Brexit might not allow UK companies to hire the European Union graduates freely. In this case, there will be an increased possibility of increasing recruitment of British graduates.

Impact of Drop in Immigration

A drop in immigration, on a national level, would not assist young people in finding a job. Well, this might happen due to the impact on the economy. The immigration into the UK is considered to be positive as it enhances the economy and helps the society to become richer and diverse. The departure from the RU might have affected the businesses who wish to set-up and make their presence in the UK. Well, this is what the impact will be, when we talk about the youngsters job market.

Twitter’s Brexit Moment

brexit trending on twitter

brexit trending on twitter

brexit twitter trending

brexit twitter

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