The Final countdown has already begun with the UK and the EU on both the sides trying to fix a deal that to destroy the BREXIT completely. According to one of the news, the UK has officially separated from the EU that will come to effect on 29th March 2019.
While the Current UK Prime Minister Theresa May is trying to provide a quite unrest, insisting to grant some extension that the exit of UK that to be proposed on Brexit transition period as few a matter of months.
It is to be expected that can be used as we need to ensure the working in a future relationship in place by the end of December 2020.
The Term BREXIT comes from merging the words “Britain” and “exit”. It has been widely used ever since the idea of a referendum and leaving the EU was put forward. Around 42 million people voted referendum with a turnout of 71.8 percent. The UK Leaving the EU was increased by 52 percent to 48 percent.
Most of the people in the EUROZONE now talk about “soft” and “hard” Brexit in reference to how close the UK will be to the EU post-separation.
The EU (termed as European Union) is an economic and political partnership between 28 member’s states including the United Kingdom. The BREXIT was begun in a trade group in the 1950s with 6 Member Nations.
The UK was the first country to apply for a joint union which was formed ar European Economic Community in 1961 and finally became a member in 1973. It is also called as European Union, which was partially a part of former the Soviet Union allowing the goods & services in a petty country. The BREXIT has made its own parliament, central bank and the EURO currency used in member countries, with some members including Britain opting to keep their own money as well as also uses euro. There is a kind of Eurocrats that have been pushing to a closer political and financial union, which could include a European Army separate from the NATO alliance. Majority of the people are in favor of leaving Britain, which was being held back by EU red tape with too many rules on business.
Majority of the member nations in the EU has even issued the sovereignty and wants Britain to take back full control of the entire EUROZONE
The UK as one of the member nation will take an exit from the European Union on 29 March 2019. This was exactly said before two years after Theresa May presented a letter to European Council President Donald Tusk formally announcing Britain’s intention to withdraw their interest.
In a more precise manner, Britain will be the EU and a withdrawal agreement has also been made. While in a transition period there will be two parties who will be forming a new relationship in the EUROZONE.
UK Leaving Brexit is very sad news for the EUROZONE as an entire economy in EU will be shattered. As around 80% of the economy is not performing well, as they are facing the unemployment issue, higher inflation, low wages, lesser exports, higher import & much more. Greater Britain moving out of Brexit will cause an alarming impact in EURO, so the EURO is not a good option to trade. While on the other pound might have a higher notch in the currency market. But we never know that how the EU economies might flare up against Britain. But overall pound will continue to rise if the BREXIT ever happens.