Brexit, the departure of the European Union
The word Brexit comes from the contraction of ‘British output ‘(British Exit), which is used to refer to the exit process of England, Scotland, Wales and Ireland of the north of the European Union (EU).
During the electoral campaign for re -election as British Prime Minister, David Cameron promised to celebrate a referendum on the maintenance of the United Kingdom in the European Union. This is an old debate, since it dates from 1973 and the adhesion of the kingdom to the European Economic Community (CEE). Since then, British politicians have positioned themselves in any of the fields.
The referendum was held on June 23, 2016 and created a big surprise throughout Europe: 51.9% of British voters decided to leave the European Union! David Cameron himself did not believe it and resigned a few days later. It is Theresa May who had to negotiate the exit agreement with the other 27 member countries of the Union.
The withdrawal of a State of the European Union is provided for in article 50 of the European Union Treaty. But in practice, this has never happened. The negotiations to resolve the exit conditions of the United Kingdom lasted two years and ended on March 29, 2019 awarding an extension until October 31, 2019:
It cannot be improvised to abandon a close political union, with common norms and many economic, customs, customs and financial crossings crossed.
The main negotiator of the European Union is a Frenchman, Michel Barnier, former senator and former minister.
The negotiations were complicated. No agreement was found on several delicate points:
- The amount that London must pay to fulfill the British commitments contracted within the framework of the European Budget, which have legal importance from the point of view of international law;
- The situation of European citizens living in the United Kingdom and British citizens living in other Member States.
- The state of the border between the different Ireland: Ireland of the North and the Republic of Ireland have been in conflict for more than 50 years for civil and religious reasons. The return of a border could weaken peace completed in 1998.
Brexit’s complete effects are difficult to predict. Some believe that the departure from the United Kingdom is a disaster: the EU sees the exit of great power, a prominent financial center, the first diplomatic partner in the United States in Europe and a large regular army, which can lead to an economic slowdownFor the entire area. This item will have consequences for fishing, transport, agriculture and commerce, migration, defense, financial and economic health of Europe, diplomatic relations, etc.
Others think that Brexit can be an opportunity: the United Kingdom is historically a country that is not favorable to strong European integration, its departure can encourage other states to mobilize for the European project. The British adhered later than the French to the European project and never wanted, this is clearly seen with the example of adopting the euro that they have never done so.
From the beginning of the discussions, the European Senate established a monitoring group on the withdrawal of the United Kingdom and the recast of the European Union, composed of 20 senators of the Foreign Affairs and European Affairs Committees. Its members traveled to London and the border with Ireland. They have listened to many European politicians, diplomats and experts to have a clear idea of the predictable effects of Brexit. Many other instances of the Senate have also been interested in Brexit and its consequences.
After the first negotiations, Theresa May with Michel Barnier reached an agreement, but said agreement was not accepted by the British Parliament, and Theresa May was forced to return to the negotiations to the point of resigning, causing said resignation a re -election forreplace-one within the ranks of the conservative party, being Boris Jhonson appointed as the new prime minister known for being proxit.
Currently, the term of October 31 has been fulfilled, and the British Parliament has forced the prime minister to request another extending to continue negotiating an agreed exit.
conclusion
In my opinion, at the entrance London loses power within the financial world, since clearly London has always been a world -class financial representation, below or almost equally as Wall Street, this is due to the situation of Brexit, which weakens thecountry. As in Catalonia there has been a flight from many companies due to their situation, London today suffers from the same situation and impacts it on many aspects.
An example is the European Medicines Agency (EMA), which was located in London and due to the situation its transfer was decided, in the transfer process of the transfer, various European cities were sought, Barcelona was chosen because they were leftoffered a space in the Agbar Tower of Barcelona (one of the most demanded office spaces in the city) and the tube agency itself to reject the offer due to the situation that Barcelona covers in recent months.
Therefore, from my point of view, Brexit has an abysmal way and is clear in the examples already said above and in the many banking institutions that have already moved their headquarters to the most stable European cities.
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