The defined what sort of relationship it wants with

The most significant event in Europe since the fall of Berlin Wall
(1989), which will change Europe as we have known it for years, was
voting by the British People to leave the European Union also known as BREXIT.
United Kingdom joined European Union in 1973, and it gave European
Economic Community, the legitimacy of the strong economic growth which
characterized the years after the second world war – lestrente glorieuses. 
The Brexit vote is likely to empower these constituencies further
undermining support for the EU. In addition, the Union solidarity will
be fragmented as a result of the Britishers voting opinion, opening up
fissures that will be difficult to close.Once Article 50 is
triggered,the exit negotiations will be difficult and potentially
divisive, but are far less important than the negotiations on
establishing a new formal relationship between the UK and the EU.
Negotiations will only be possible once the UK government has defined
what sort of relationship it wants with the EU-27. It will take time for
EU to consider and evaluate the requests of UK ; then for some sort of
compromise deal to be found; and, finally, for a treaty setting out the
new relationship to be ratified and implemented. As for example if the
EU starts to charge import tariff on UK then the prices of Food items
will increase by 22 percent on average as 80 percent of UK depends on
Europe for food. And it is difficult to complete it by the time UK exit
takes place. Unless an interim arrangement, based on continued
membership of the single market, is agreed prior to the exit date, the
UK and the EU will be heading towards a “messy and hard exit”, with
potentially very disruptive effects for different economic sectors.But
the May government intends to take the UK out of the single market,
which by any reasonable definition is a “HARD BREXIT”. The best way by
looking on the circumstances would have been to follow a soft slow
process, which allows for adjustments during a longer period.Economists
are saying that Brexit would impose significant costs, primarily on the
UK, but also on the economies of the EU-27, with their severity varying
from sector to sector. Integrated production chains, for example in the
aerospace and automotive industries, will face obvious difficulties. In
a way this is restricting the free flow of capital between the
continent and biggest financial centre in the City would have
repercussions, not only for London-based financial institutions, but
also for financing opportunities across Europe. Businesses from all
sectors should also watch what happens to the rules for data flows
across the Channel. now this will affect EU as :

x

Hi!
I'm Kara!

Would you like to get a custom essay? How about receiving a customized one?

Check it out