It seems that if the Brexit will come, there can occur a lot of Problems for the British population and economy, but also on the economy and population of other EU member States, because of different regulation consequences which will come with the Brexit. The question is how far the Brexit can influence the british economy positively or negatively. Another question is what models the british population can use after the potential Brexit to prevent a negative outcome. The aim of this work will therefore be to identify the potential impact of the Brexit on the UK economy, as well as on the EU.
On 26 June 2016 for the first time in the history of European politics, direct democracy was applied. The British population decided directly and not through a parliamentary representation in a referendum, to withdraw from the European Union. The British EU cepticism rose with the debt crisis in the euro zone that had existed in the years prior to the referendum. At the end of the referendum, a majority of 51.9% of the British population was against remaining in the EU. The referendum had a turnout of 72%, with Scotland and Northern Ireland showing a majority rejection of the resignation, while Wales and England spoke in favour. Never before in the history of the EU, a country has left the Confederation of States which makes the economic consequences of the so-called Brexit for the British or European economy uncertain, because it is unclear what the relations of the United Kingdom and the European Union will be like after the withdrawal.
The British government had until March 2017 after the referendum to announce an official exit notice, and Theresa May submitted her country's official resignation to the EU on 29 March. Future economic and political rules between the EU and Britain will be negotiated under Article 50 of the Lisbon Treaty. It is important that if the EU and Britain cannot agree on the different points within two years, the EU treaties will beco-me invalid for the United Kingdom. Article 50 has never been applied because no EU member state has ever wanted to leave the alliance. For this reason, the outcome of the negotiations is currently uncertain.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Problem Statement
- Objective
- Structure of the term paper
- Economics of the United Kingdom
- Economic Situation of the United Kingdom
- Economic relationship of the United Kingdom with the European Union
- Impacts of the Brexit on the British economics
- Impacts on the tertiary sector
- Impacts on the good trade
- Foreign direct investments in the United Kingdom
- Chances after the Brexit
- The Switzerland Model
- The Norwegian Model
- Summary
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This term paper examines the potential influences of the Brexit on the British economy. The main objective is to analyze the potential economic impact of the UK's withdrawal from the European Union, both on the UK and the EU. The paper aims to identify the key challenges and opportunities presented by the Brexit for the British economy.
- Economic Impact of Brexit on the UK
- Trade Relations between the UK and EU
- Foreign Direct Investment in the UK
- Alternative Models for Post-Brexit Relations
- Comparison of Swiss and Norwegian Models
Zusammenfassung der Kapitel (Chapter Summaries)
The first chapter introduces the problem statement, outlining the significance of the Brexit referendum and the uncertain future for the UK and EU economies. It also defines the objectives and structure of the term paper.
Chapter two provides an overview of the UK's economic situation, including its population density, unemployment rate, and its position as the second largest economy in the EU. It further details the UK's strong economic relationship with the EU, based on the four freedoms of the internal market.
Chapter three explores the potential impacts of the Brexit on the UK economy. It examines the impact on the tertiary sector, the trade of goods, and foreign direct investment.
Chapter four presents two alternative models that the UK could adopt after Brexit: the Swiss model and the Norwegian model. It analyzes the potential benefits and drawbacks of each model.
Schlüsselwörter (Keywords)
The key focus of this term paper is on the potential influences of the Brexit on the British economy. The main keywords include the UK's economic situation, trade relations with the EU, foreign direct investment, the impact of Brexit on various sectors, and potential post-Brexit models like the Swiss and Norwegian models.
- Citar trabajo
- Vanessa Ramos (Autor), 2018, Brexit. Which potential influences does it have for the British Economy?, Múnich, GRIN Verlag, https://www.grin.com/document/471122
