The United Kingdom has taken its exit from the union of Europe, and this has been termed as Brexit. Votes were cast, and the majority opted to take a leave from the European Union. But why is Brexit so important? Why is it important to understand, and what will be its impact?

In this article, we will cover the Brexit and all other important information regarding it.

Understanding Brexit

It was a historic day when Britain had voted to take its leave from the European Union. With this policy and a lot of many changes, it will surely impact the economy of Britain, the policies of the country, and its relations with the countries around Europe.

Europe consists of not just one but many countries in itself. After world war 2, many of these countries still fought between each other, leading to degrading in the unity of the continent. The countries of Europe then decide to integrate with the trade of coal and steel and then to the other industries in the future.

A simple trade in the other country or if someone had to immigrate to the other country, a long process of all documents and legal procedures had to be done. The western side of Europe had 12 countries, and each had its trade, economy, and immigration policies. Following and understanding all these rules was very difficult. 

Then, the European Union decided that all the countries will follow one rule only. The European Union did not want barriers in the country. Almost all of Western Europe joined to follow it in the year of 1993. This bough peace in the nation.

But just like each coin has two sides, the EU faced its problems too. In the year 200, the financial crisis arrived, and the Central Bank of Europe couldn’t return an effective response. Unemployment took its toll, and the tax revenues fell heavily. Many countries under the European Union had to take huge loans landing themselves in debts. 

Seeing the disturbance in the economy, wealthy countries like the United Kingdom started having second thoughts regarding their unity with the European Union. Britain’s population count suddenly sped up as many foreign-born migrated. The population almost doubled up between 1993 to 2014.

The union had grown, and people in these countries became poor. This was the time citizens started going to the UK. Southern Europeans especially migrated quickly as the employment rate was really low. 

According to a survey conducted, 77% of the Britishers said that this quick immigration was a major danger, and it should be looked into urgently!

It was then in the year of 2017 that the Brexit vote happened. David Cameron notified by announcing their referendum choosing between staying with the European Union not? The votes were done, and Britain had decided to get out of the tangled mess.

With the announcement, Cameron also resigned from his position as he wished a stronger leader to take his position. 

That left the EU and the UK to figure out what will happen next.

So, what’s happening now?

New agreements and policies will be implemented. The UK has removed itself at a lot will be left at the end of the transitional phase. One can suspect tariffs on UK goods to the EU countries. Many factors such as security of the nation, aviation safety, access to the waters, supply of gas and electricity, and medicinal policies need to be discussed.