Pros And Cons Of Leaving The EU

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For 43 years, since 1973 , Britain has been an active member of the European Union (EU) and played an important role in the development of this community. However, it is the hot topic that UK Prime Minister David Cameron has announced a referendum to be held on June 2017, in order to answer the question: "Should the United Kingdom remain a member of the EU or leave the EU?” It is uncertain what the exact answer is, since no country has ever done it before. However, people are trying to give different scenarios, weighting the pros and cons of leaving the EU, and it seems like the cons is outweighing the pros on the large scale, namely politics, economics and social impacts.
A brief history
The EU is an economic and political partnership between 28 member nations. It was formed after World War Two to foster economic co-operation, and primarily focused on the economy with the name European Economic Community (EEC). Its central idea is countries that trade together are more likely to avoid going to war with each other . During 60 years since establishment, the EU has delivered “peace, stability and prosperity” in
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Since EU provides the UK with access to a market of 500 million consumers market, UK has the chance to create more jobs to meet with the high demand. Britain’s membership has attracted foreign firms that are part of that market; as a result, many big businesses have invested in the UK. In financial services, 250 foreign banks employ 160,000 people in the UK, according to lobby group TheCityUK 2014. However, business bosses may take their companies out of the country when Britain abandons it’s membership, since they can’t use the UK as the springboard to reach a larger EU market anymore, as mentioned in the above section. This might hurt the domestic job markets, and the domestic workers might be the first ones to be affected by

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