The Impact Of Brexit

1154 Words 5 Pages
In the article, “Brexit Decision Is Likely To Reduce Growth In The Short Term,” presents the global issue of the negative economic effect on Great Britain, Europe, and the rest of the world. Britains EU referendum vote took place on Thursday 23rd June, 2016. The results were announced in the early hours of Friday 24th June, 2016; with the result of 48.1% voting to remain and 51.9% voting to leave the EU. Consequently voting for the leave campaigners Nigel Farrage, Boris Johnson, Gisela Stuart (chairman), Matthew Elliot (CEO), Dominic Cummings, and Michael Gove. This caused the ex prime minister David Cameron to step down, as he put his full support into the remain campaign. This meant Theresa May was then elected as the next, and only the …show more content…
All 27 members of the European union have been affected due to the United Kingdom being a main actor within the EU. Large states like USA, China, Australia, etc. Have all been negatively hit from this vote, trade agreements will need to be re-discussed because the UK do not have free trade within the EU, and trade agreements with these powerful states will be lost for Britain. However, the countries most affected by Brexit are Ireland, the Netherlands, Belgium, Malta, Cyprus and Luxembourg. This is mainly due to the weaker exports, all of these countries export their goods and services to the UK, which make up around 8 percent of their total GDP. The actor involved is the people of the United Kingdom, they operate at a state level of analysis. Their decision to leave the EU changed the global level of analysis. This had a big influence on non-governmental organizations, this is down to the fact that British NGO’s received an estimation of around €145 million from the EU’s emergency aid department, in 2015. When the transition of the UK leaving the EU finally comes to a halt, the UK registered non-profit organizations will no longer be able to receive that funding. So, NGO’s like Oxfam, Save The Children, and IMC will have their ECHO funding …show more content…
The authors have a realist perspective, realism is the view that world politics is driven by competitive self-interest. The UK is becoming a realist nation, all of the leave campaigners are realist enthusiasts, who persuaded the general public to leave the EU and become independent. This decision was a bad one for the country’s economy, in the article, figure 3 shows that the UK pound sterling has dropped from £1.30 to £1.20 for €1 on the 24th of June at 8:00am; the day after the vote .The authors use lots of quantitative data, in the form of graphs, numbers, figures, and percentages. The use of these makes their argument more valid and reliable, thus making their claims for credible and effective. For example, in the article the authors use a figure on the impacts of Brexit on the United Kingdom’s gross domestic product (figure 4). They will then put their point across and make it a genuine fact by backing it up with statistical data, for example “The literature estimates the short term decline in British economic output resulting from the Brexit vote to be between 1.3 percent and 5.5 percent (Figure 4).” The use of statistics makes their statements credible and

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