Britain's Greatest Mistake Essay

1220 Words 5 Pages
Cheyne Mita 1
8/27/16
Shiroma 1 Brexit: Britain’s greatest mistake Britain has been a longtime member of the European Union, and it’s hard to imagine the European Union without them, as Britain has been a member ever since 1973, although from time to time they considered and tried to leave the union. Brexit is Britain’s decision to leave the European Union. However, the official action of withdrawing happens when Article 50 is activated (and it hasn’t
…show more content…
Following the Brexit decision, market analyst Naeem Aslam observes, “the British pound is facing its worst day ever.”(Kottasova) The pound’s value has plummeted to the lowest levels it’s seen in 31 years. Another byproduct of the Brexit decision is that Chancellor Philip Hammond pledges he’ll give European Union subsidies, “reassurance... stability and certainty” (Swinford) by covering billions (of British pound) in funding to restore their confidence as the union will stop funding them once Brexit takes effect. A two-year shortfall will result from funding the subsidies. This excess spending of money would not have to happen had Britain chose to stay in the …show more content…
"Britain Will Cover Cost of Billions in EU Subsidies for Farming, Science and Deprived Areas after Brexit, Chancellor Announces." The Telegraph. Telegraph Media Group, 13 Aug. 2016. Web. 19 Aug. 2016. .

Kottasova, Ivana. "The Pound Is Crashing on UK Vote to Leave the European Union." CNNMoney. Cable News Network, 24 June 2016. Web. 19 Aug. 2016. .

Riley-Smith, Ben. "Leave or Remain in the EU? The Arguments for and against Brexit." The Telegraph. Telegraph Media Group, 20 June 2016. Web. 19 Aug. 2016. .

Inman, Philip. "UK Unemployment Claimant Count Falls after Brexit Vote." Theguardian. Guardian News and Media Limited, 17 Aug. 2016. Web. 19 Aug. 2016. .

Britton, Bianca. "Brexit 'Leave ' Campaign Built Victory on Arguments against EU." CNN. Cable News Network, 25 June 2016. Web. 19 Aug. 2016. .

Reuters. "Brexit Woes Drag the British Pound to New Lows." Fortune Brexit Woes Drag the British Pound to New Lows Comments. Time Inc., 05 July 2016. Web. 19 Aug. 2016. .

"BBC ON THIS DAY 1 1973: Britain Joins the EEC." BBC News. BBC, 01 Jan. 1973. Web. 25 Aug. 2016. .

"BBC ON THIS DAY | 6 | 1975: UK Embraces Europe in Referendum." BBC News. BBC, 06 June 1975. Web. 25 Aug. 2016.

Related Documents