Now-a-days the newspapers are filled with the term Brexit and related news. Most of the people want to know what Brexit is . The word Brexit has been obtained from the two words - Britain + Exit. Now the question is where Britain wants exit from. Britain wants exit and that is from European Union. There was the referendum on 24th of July ( Sunday) for being Remain or Exit the EU.
And the people voted to leave it. There are immediate results of this decision of the people of England. The British PM David Cameroon has quit his post after the result of this referendum. The English currency Pound has touched 1985 low and sterling is also very low. The total turnout of the voters was 72.2%. In the final result 48.1% voted for being remained with EU and the rest 51.9% to leave it.
The people had to give their referendum in Yes or No.
What is European Union ?
European Union is a group of 28 European countries. These countries are connected with each other for Political and Economic partnership. This union came in to existence immediately after the World War II for strengthening the economic conditions of the member countries. People of member countries can visit any of these countries without any trouble and permission. It was being done to facilitate the business. In that way the labors can also easily visit in these countries.
19 of these counties have one currency called Euro. In addition to it, the other rules related with Transport, Environment, Business etc are same in the member countries.
But why did Britain want to leave EU ?
It is believed that most the Britons believed that uniting with EU had made England lag behind in many spheres. According to Britain, the European Union had made stiff rules regarding Business and despite giving several pounds per year as the membership fee, it was not getting desired benefits.
Secondly, Britain wants some boundary restrictions. It does want the people of other countries enter its boundary easily. This shows Britain wishes to curtail the nos of people who have come from other countries. It believes that this thing shall generate employment for the local people. It was one of the biggest reasons that the majority of the English voted in favor of leave.
Shelter and terrorism problems are also the major issues behind this thought. A large no of shelters from Syria, Iraq, Afghanistan have settled here. Due to lenient rules, they can stay in any of the member countries and England is their favorite haunt. It has also disturbed the economy of all the member countries including England.
But some experts believe that England will have to incur the economic loss. But we have to wait for sometime for the clear result of this referendum.