Political and Economic Impacts of Brexit on European Union (original) (raw)
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Torun International Studies, 2018
The future of the European Union is a topic which frequently generates multiple heated debates amongst politicians, lawyers and political scientists. This issue is even more burning and contentious after the Brexit referendum, which is a turning point in the history of European integration. As an answer to the first withdrawal of a member state from the European Union the European Commission published the “White Paper on the future of Europe. Reflections and scenarios for the EU27 by 2025” which immediately came under fire from critics. In this publication five possible scenarios for the future development of the European Union were presented with a view to “launch a process in which Europe determines its own path”. In September 2017 the President of the European Commission, Jean-Claude Juncker, in his “State of the Union Address 2017” outlined his own unique and alternative sixth scenario for Europe’s future, which concentrates principally on freedom, equality and the rule of law. The main aim of this article is to compile and provide an analysis of the effect of the United Kingdom’s withdrawal on the European Union’s future development in the context of European integration. This paper consists of five parts which include the history of European integration, an analysis of the Brexit referendum and its impact, as well as a presentation of the 6 possible future development scenarios.
Assessing the Impact of Brexit on the European Union
Risk in Contemporary Economy
Great Britain has always had a very interesting position, even a little strange, on the European Union. Between 2010 and 2015, Europe believed that Great Britain was entering an era of uncertainty, but this pertained to the failures of the states in Africa and Asia, rather than the status of Great Britain concerning Europe. The paradox is that despite the fact that Great Britain was entering an era of "uncertainty", its strategic review seemed very confident about its positioning and the nature of emerging threats. As a result, there were identified many more clarifications as to the British values, including the decision to join coalitions and alliances, similar to Switzerland. The paper proposes an integrated analysis of the United Kingdom and European situation by means of data provided by international institutions. The purpose of the paper is to evaluate the impact of Brexit on the European Union, and to estimate what will be the situation of the economies of the two entities after going out of the EU.
The future of the European Union after BREXIT
The future of the European Union after BREXIT, 2021
ABSTRACT: The article presents the changes that have taken place since Britain's decision to leave the Union. This process, which began with the organization of the Referendum in 2016, had a negative impact on both the EU's domestic and foreign policy, as well as its micro and macroeconomics. Doubts have been raised about the danger of a total or partial disintegration of the Community, as well as the possibility of the future EU development at several speeds. The question is whether, after Brexit, the gap in living standards between Member States and regions will begin to narrow or will there continue to be a confrontation between small/large in territory and poor/rich in economic development member states. The weakening of the European Union's political influence worldwide with regard to international organizations (UN, G7, G20, Commonwealth of Nations composed of 53 English-speaking Member States supporting the Queen of England, etc.) has been noted. The strengthening of Euroscepticism among the citizens of Europe has been noted, as well as the danger of fatigue before the deepening of European integration and the possibility of future EU enlargements with new member states (for example, with the countries of the Western Balkans).
Brexit and the Mutual Consequences Regarding Great Britain and European Union
2017
This research paper assesses the likely impact and consequences of Brexit on the European Union, together with some scenarios for the terms of the UK’s future secession. For the EU, the ongoing process is considering that the losses are found to be highly significant. The key research targets of this paper are the following; Britain is deeply divided over its membership of the EU. There is a risk of ‘political contagion’ from Brexit as it could fuel Euro skepticism elsewhere, particularly if the UK is seen to benefit in politically sensitive areas like migration. Brexit would mean years of uncertainty and wrangling to establish a new relationship between Britain and the EU, which would be damaging for businesses trading with and partners invested in the UK. All member states of the Union will feel the collision of Brexit as Europe will lose international esteem and foreign policy influence and have less leverage in trade negotiations. Brexit will harm the EU’s cohesion, confidence a...
Post-Brexit Scenario: The European Union under Threat
Strategic Studies
Around 60 years after signing of the Treaty of Rome, which led to the establishment of the European Economic Community (EEC), the European Union (EU) is struggling with the aftermath of eurozone and migration crisis and the rise of anti-EU and populist movements all across Europe. Britain’s decision to move out of the EU, further adds to the challenges faced by the EU and put its regional integration in question. This paper tries to expose the factors that led to Brexit, analyses whether the EU is headed towards disintegration and what reforms are needed to save the EU model of regional integration from disintegration. Brexit was a complex interplay of factors such as a threat to national identity and sovereignty, rising inequality and economic insecurity and Euroscepticism. The results indicate that in post-Brexit, support for the EU has increased in member states. The economic losses and political chaos that Britain had to undergo post-Brexit has united the EU members despite the ...
Brexit From Different Perspectives
2017
The subject of the research is consequences of Brexit perceived from the perspective of the European Union, the United Kingdom and Poland. The research is an interdisciplinary law and economics study. The results show that the balance for the EU is negative. Brexit changes the internal and external perception and attractiveness of integration, which will no longer be perceived as a road with no return, which may result in subsequent withdrawals. It weakens the European identity. It closes the era of bargaining and concessions to the UK. The balance for the United Kingdom will also be negative. The economic costs of leaving the EU can neither be compensated by savings on EU budget payments nor by the dubious benefits stemming from the economic relations with third countries free of the European regulatory restrictions. At the same time, Brexit ends the era of controversy around EU membership and therefore forces the formulation of internal programmes and the implementation of a polic...
Political and Economic Impacts of Brexit on UK
Review of Politics and Public Policy in Emerging Economies, 2020
Brexit is a term used to explain about the departure or withdrawal of Great Britain from the European Union. Brexit is a very important political development of recent political scenario of Europe. It has its impacts on the economic and political future of both UK and EU. The UK is enjoying membership of the EU from the beginning. But in mid of 2016 a referendum was held in UK to decide whether they should remain in EU or exit. The British people decide in favor of exit with a simple majority of 51.9%. After that referendum British Prime Minister David Cameron resigned and new general elections were held in 2017. Since the referendum the UK and EU are negotiating on an exit deal and the UK is due to leave the union on 29th March 2019. It will have its dimensions and implications. There are voices rose demanding a new referendum on the issue because many British people think that the Brexit is not good for UK. There are pro EU voices in European countries who also wish UK to remain p...
EU Policies and Priorities in a Post-Brexit Era
The EU after Brexit
This chapter looks at the possible impacts of Brexit on specific European Union (EU) policies and priorities. It concludes that there are unlikely to be fundamental shifts. Policy areas such as development of the single market (notably the digital single market), further progress on the capital markets and banking unions, on the energy union and on fighting climate change, will continue to have broad support. Defence cooperation will be given a higher emphasis than before. Divisions will remain, however, in many areas, including the general direction of macroeconomic policy, the approximation of taxation, the extent of EU solidarity, practical measures to distribute the burden of migration, and the nature of EU foreign policy-in particular in its Eastern Neighbourhood, the Middle East and the Mediterranean. Keywords Budget and own resources • Economic and monetary policy Single market • Social policy and migration • Other EU internal policies EU external policies and enlargement Earlier chapters of this book have shown that there are some obvious institutional and other impacts of Brexit on the European Union (EU). The initial reactions within most EU member states and the EU institutions have been to defend the EU and its role and values, and to come up with a common stance on the Brexit negotiations. On the other hand, the future direction of travel of the EU is still very unclear. It is particularly difficult to predict the impact of Brexit on CHAPTER 8
The UK and the EU: The Implications of a Brexit for Europe
The possibility of Britain withdrawing from the European Union -a "Brexit" -has been receiving growing attention. Reports have largely focused on what this withdrawal could mean for the United Kingdom; however, there has been little analysis of what it could mean for the rest of the Union, its individual members, wider Europe, and other states around the world such as the United States and Japan. This analysis gathers 26 views from think-tanks, research institutions, and universities from sixteen EU member states, nine non-EU countries, and a view from the EU's institutions in Brussels. Five overall themes emerge from the contributions: