Brexit or short from Britain Exit refers to Britain (England, Scotland and Wales) leaving the European Union.
European Union or EU is a project that was originally started in 1951 as a treaty for cooperation between the ,,forever,, in war countries France, UK and Germany, and together with them the BENELUX countries (Belgium, Netherlands and Luxembourg).
In the beginning this coalition or cooperation was named ECSC (European Coal and Steel Community) and through the years this project has risen and brought to life an union that was almost fully economically integrated, and was proceeding to a full political unification as well.
Even from the earliest years of the EU, the so called Euroskeptics have been against such an unification. Most of them are coming from the UK, which was the direct cause of UKs prolonged decision to join the union (they joined in 1973).
Nowadays, the people that are lobbying for UK to exit the EU, or so called the ,,Leave Camp,, are arguing that the membership in the union is hurting UK, its bleeding money out of it, and without the EU, they can enjoy bigger freedom, they will regain their national sovereignty, will improve their standard of living, will reduce their unemployment rates and will ultimately lead to a better economic outlook.
But is this actually true? What will actually happen if UK is to leave EU? We can not comment on this topic directly, because there is no such thing that has happened in the past. In fact, EU is a so called one way ticket, or as Eagles put it – ,,You can check out (in) anytime you want, but you can never leave,,.
The main forces behind the ,,Stay,, campaign including prime minister David Cameron, Chancellor of the Exchequer (or finance minister) Osborne, former prime minister Blair and many more are for UK to stay in the EU. They argue if UK is to leave EU, with it are leaving all of the trade agreements and benefits are currently enjoying, such as free movement of goods, services, capital and most important people. New trade agreements, decrease in exports, more expensive imports, devaluation of their currency are only some of the results from such a scenario.
Take a look at Norway, Switzerland. The decided to stay out of EU and in return they are paying enormous amounts of money so that they can have good relations with its member countries. And not to mention the benefits that the EU citizens are enjoying in those countries. In the end, its Norway and Switzerland who are losing, and the winner is once again EU.
What will happen we are about to see. The referendum is less than one week away.