Brexit: The Beginning of The Downfall of The European Union

One of the most important news of the year was that the EU which represents one of the largest financial unions of the world, may collapse. Some analysts persuaded the media that the first step of weakening and collapsing the EU was Brexit. In a referendum on 23 June 2016, 51.9% of the electorate of the UK voted to leave it. On 29 March 2017, the British government invoked Article 50 of the Treaty on the European Union. Which means that the United Kingdom will depart it on 29 March 2019. In July 2016, a new government department was created specifically for Brexit, named “The Department for Exiting the European Union” (DExEU). Previous facts, confirm that soon number of members of the European Union will decrease and will stay only 27 countries.

The Treaty of Lisbon, included Article 50 which is an agreement signed up to by all of the EU states and became law in 2009. Before it, there was no formal mechanism for a country to leave the EU. It is quite short - just five paragraphs - which spell out that any EU member state may decide to exit from the union. It takes two years to complete an agreement and depart the union, because governments should analyze the British financial capabilities to maintain economic stability after Brexit. The post-departure trade deal is likely to be the most complex part of the negotiation because it needs approval of more than 30 national and regional parliaments across Europe, some of whom may want to hold referendums. As Prime Minister May further stated, the UK would stay a member of the European Single Market is a market that guarantees the free movement of goods, capital, services, and citizens. The market encompasses the EU's 28 member states and three post-Soviet countries Georgia, Moldova and Ukraine were given access to the "four freedoms" of the Single Market.

Brexit is a long process which might need some additional funds. According to various reports, its expenses range from £44 billion to £88 billion. Although secretary of Brexit Department, David Davis has said: "We will not be paying €100bn."

The British referendum shows that the majority of the UK citizens were not satisfied with being members of the European Union. Sone politicians think that, that was because of the UK having some imperialistic views regarding Europe and they do not want to be a regular member but be a leader state in the region. Everyone agrees that Brexit is one of the most important and even vital events in the history of the UK. With this event, however it somehow loses connection with other countries of Europe. There is strong agreement among economists in existing economic research that it is likely to reduce the UK's real per-capita income in the medium- and long-term. Studies on effects that have already materialized since the referendum show annual losses of £404 for the average British household and a loss of 1.3% of UK GDP. Another influence that Brexit might have on Great Britain is that it can make it hard for ordinary citizens to travel in European countries, but as long as they have the Shenzhen visa it could not make any problems.

Even after Brexit, the UK will remain as a democratic and free country which represents an example for every government. It still would have a good relationship with other European states and help each other if it turns out to be compulsory. An EU meeting to discuss Brexit has been called for 29 April, 2018, Mr. Donald Tusk stating that the "priority would be giving "clarity" to EU residents, business and member states about the talks ahead." Mr. Michel Barnier, European Chief Negotiator for Brexit, has called for talks to be completed by October of that year to give time for any agreement to be ratified before the UK leaves in March 2019.