Brexit

Brexit, the departure of the UK from the EU, happened on January 21, 2020. The EU was formed to promote economic growth and prevent wars. The UK joined in 1973 and had a referendum in 1975, where 67.2% voted to stay. The EU was successful in strengthening economies, but the UK didn't want to give up sovereignty and refused open borders and the euro. The UK's departure hurt their economy, causing high inflation and cost of living. Good evening, everyone, and welcome back to the Global Affair Podcast. I'm your host, Sam Powell, and on today's episode, we are discussing Brexit. So, what is Brexit? Brexit is a name for the departure of the United Kingdom from the European Union. This departure occurred on January 21st in the year 2020, and neither the UK or the EU have been the same since. In order to understand Brexit, we must first understand the origin of the EU and how each country worked together to create economic growth. Following both world wars, the theory that countries who were in close economic ties were less likely to fight each other arose. This caused the Treaty of Rome to be signed to form the European Economic Community. The UK was excluded from this treaty for decades due to French President Charles de Gaulle's distrust in Britain and its allies, mainly the United States, and his fears that their economy wasn't compatible with Europe. In 1969, however, de Gaulle resigned as president, and four years later, the UK became a member of the EEC. Two years after their induction, the British government held their first referendum, the question being, do you think the United Kingdom should stay in the European community or the common market? 67.2% voted in favor of staying, while 32.8% voted to leave. The EEC continued to grow and eventually became known as the European Union. As of 2016, there were 28 member states within the EU. Many speculate that the goal of the EU was to mirror the economic system of the most powerful country in the world, the United States. So, was the European Union successful? It is no question that the EU has been successful in strengthening the economies of its members, as the French, German, and British GDP per capita index has risen nearly 40% since the beginning of the EEC. We will discuss the issues after this short message. Welcome to McDonald's. Can I take your order? Yeah, I'll have a pre-meeting pump-up, a Monday fixer, and a screaming boss recovery. So that's one peppermint mocha, one McCafe frappe, and one fruit smoothie? Yep. Name your drink. McDonald's has it. We're your destination for those special flavors that help you get through your day. Get any small McCafe smoothie, frappe, shake, or espresso drink for only $2. Even the delicious new peppermint mocha. For a limited time, price and participation may vary. Thank you for your patience and welcome back to the podcast. So, what were the issues? Well, the EU became more and more integrated as member countries agreed to forfeit more and more of their sovereignty. The UK, however, did not want to give up any freedoms and wanted to stay as powerful as they could. In 1995, every country in the EU, except for the United Kingdom, agreed to open borders in hopes of creating free movement within Europe. The UK also refused to adopt the euro as a universal currency and chose to keep the British pound in circulation. One major component of the UK's departure from the EU was the Lisbon Treaty. The Lisbon Treaty allowed countries in the EU to peacefully leave, opening the door to conversation about the fate of the UK. Following the referendum in 2016, Boris Johnson and Parliament made the decision to leave the European Union after much consideration. Unfortunately for Britain, leaving the EU only hurt their economy. Inflation is at an all-time high along with some of the worst cost of living rates among first world countries. This is suspected to be caused by a lack of international trade between England and the rest of Europe. So, what do you think? Please leave your thoughts in the comments section and have a great rest of your day.