Brexit is an acronym of two words to refer to the UK (Britain) leave the EU (Exit). The UK has voted to leave the European Union (EU), this action will cause the effects to the future of Britain as below:
The UK will leave immediately?
The UK had voted to leave the EU but they will not leave immediately, the UK still be a member of the EU at this stage while the process of leaving begin.
Statement of David Cameron
Prime Minister Cameron has stance towards EU and in favor of the bloc. British people have rejected his advice to stay in the EU, this would be the time to announce his departure.
Market impacts
The value of the pound fell to the lowest level against the dollar since 1985 when the result of the referendum was announced.
The impact will depend on the terms after the UK negotiating with the EU, particularly, can the UK be allowed to freely enter into the European common market or not.
The reactions of European leaders
All EU leaders don’t want the UK leave the bloc, they can convene an emergency summit with an attempt to keep the UK stay in EU but it seems impossible because the opinion of the British people must be respected.
The way to exit
Mr Cameron said in the event of a leave vote, he would activate Article 50 of the 2009 Lisbon Treaty, and when this article is triggered, the UK will not have the way to back into the EU if members in bloc not consent.
Boris Johnson and Michael Gove have said there is no need to trigger Article 50 immediately. They need clarity after extensive informal talks with other EU members and the European Commission.
Exit negotiations
Depending on the time Article 50 is triggered, negotiations will begin in Brussels on the terms of its exit and the nature of the UK’s subsequent relationship with the EU.
The reactions Parliament
Almost 650 MPs of the UK are in favor of Britain staying in the EU. Parliament will not silent although they have to respect the opinion of the British people. They will keep the UK in the single market in any exit negotiations.
Who would lead Britain’s negotiations?
The most senior members of the government – David Cameron, Chancellor George Osborne, Foreign Secretary Philip Hammond and Home Secretary Theresa May – are all Remain supporters.
The UK’s future up for grabs?
The SNP warned during the campaign that if – as has happened – the UK overall votes to leave the EU but Scots vote to remain, Scotland would be taken out of the EU “against its will” and this could be the trigger for another independence vote.
While SNP leader Nicola Sturgeon’s failure to win a majority in last month’s Holyrood elections means this will be harder to achieve, there are concerns in Westminster that a Leave vote could undermine the future of the Union.
Source: bbc.com
