The Political Economy: Can you define the term ‘Brexit’?

Politics has an impact on our everyday lives. Let us point out the fact that the Brexit is the most up-to-date unfinished business from which we can understand from (or see). Since being the first country to leave the EU, this decision to leave the European Union is a tough pill to swallow; especially since we as a nation have had a 40-year relationship with the European Union it makes the situation particularly more difficult.

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Is this an act of betrayal as some may say? Well, all we know is that the outcome will be one we have never experimented with before in the past. By now, you must be thinking this ‘Brexit’ does not make sense and has nothing to do with me or my life. Surprisingly, you’re right on the first part. Though the second part, I’m positively certain you’re leading astray… well we hope so. It doesn’t make sense to the general public or…  politicians; who ending up quitting from what we can see. Surely, the politicians whom we elect should be making the critical decisions which we know to a shockingly small degree?

Those in charge have been elected from the general public, to make the important decisions for the nation. Yes, we would like to cast our opinion and voice our thought. But let us get this straight, if we only know about the ‘Brexit’ to a small degree how on earth could we possibly vote on either side which will have a life changing impact on our future?

From this, we need to be able to understand the intentions of this ‘Brexit’. So according to the European Journal of International Law titled ‘Brexit: No Happy Endings’, Brexit is described as an incurable cure. Labelled as a “Mad-like scenario” which ultimately has no “happy ending”. The Brexit is seen as a battle between both sides. Including a table of points used by politicians and if the opposing party suffers defeat they will hold their head in shame and throw in the towel… to quit.

The European Union contains 28 member states including Britain ac
counting for almost 50% of its exports being in the EU. This means that, the UK still has an important role to play within the European Union regarding its departure-to-be. There are benefits of being involved in the European Union. Recent data from the World Bank in 2016 displays that EU has a GDP of $16.23 trillion; meaning this is the monetary value of all its goods and services within the EU over a given period. You might ask why is this important?

The parties and government are currently divided though it may be argued. Britain’s future has not been thoroughly explained or addressed by the Tories. To some, the Brexit is some sort of policy-avoidance and intentions of the government not properly addressed.

In the midst of all this, we still have a bright side to look forward to. Britain claiming its independence and sovereignty, now able to dictate on how they spend their budgets accordinglyand the list goes on. So perhaps it isn’t doom and gloom after all. The Brexit means that we shall wait on the outcome in a few years – waiting on Article 50 which bears no guarantees it will take us a couple of years before we actually leave the European Union. We’ll stop paying into the EU budget meaning as a nation we could benefit from.

Being a member of the EU possess many rights. In future we may not have all these right such as free education in Europe and other employment opportunities. Perhaps, it is time for the younger generation to cast their votes more. They are the ones who are ultimately going to benefit or suffer from this decision. Again, there are no guarantees only if we are to invest in the next generation through education on politics.

Granting we haven’t left the EU yet, in that time we can work out how everything is going to operate, so don’t panic just yet. “Like the rules and regulation in a nation state, the EU institutions are constantly evolving” (W. Peng and E. Meyer 2008). So defining the so-called ‘Brexit’ as it happens will be different to each of us. Liberal views will be different to a conservative view on the Brexit but the ultimate question is whether these differences play a huge role in the Brexit or not.

Writer: Patrick Ngombo

Bibliography and Further Reading:

“EU Member Countries – European Union Website, The Official EU Website – European Commission”. European Union website, the official EU website – European Commission. N.p., 2016. Web. 28 Oct. 2016.

“European Union | Data”. Data.worldbank.org. N.p., 2016. Web. 28 Oct. 2016.

  1. Peng, Mike and Klaus E. Meyer. International Business. 2nd ed. Cengage Learning, 2008. Print.

Weiler, Joseph. “Brexit: No Happy Endings”. EJIL: Talk!. N.p., 2016. Web. 1 Nov. 2016.

 

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