The Consequences Of Brexit For European Values

Brexit is a combination of two words ‘Britain’ and ‘Exit’. The European Union has given this name to the United Kingdom after its departure from the EU. In 2016, the UK held a referendum and gave suggestions from the other members of the UN about its departure. Almost 52% of voters voted against the UK. After that referendum, the administrators of the UK announced that the UK will officially leave the UN on 23rd March 2019. After the Brexit, the European Union is facing lots of consequences. Here, experts of dissertation writing services will discuss the possible consequences of Brexit for European Union.

Budget The UK was a great contributor to the budget of the EU. In 2016, the contribution of the UK in the EU budget was almost €20 billion. As a result, we can see 5% decreases in the budget of the EU. In order to fill this gap, the EU has to reduce regional spending. Now, the EU is providing fewer amounts to the poorer states for their regional spending. As a result, we observe an unbalance in the budget of the EU. That’s why we are also observing a decrease in the savings of the EU. Its reason is that this saved amount is also given to the poorer states as their regional funds.

Policy changes The UK was the major player of the EU and there was a great support of UK for the establishment of the EU. After the Brexit, we can also observe lots of policy changes in the EU. Firstly, we can observe an ideological shift in the EU. Due to the ideological shift, the EU has to face the challenges to pass extra regulations, to protect from the copyright issues, to pass the budgets, to give support to the nuclear energy and to give support to the financial transaction tax.

Economic impacts Due to Brexit, the EU has also to face some economic impacts. In these economic impacts, first, there comes to trade with the UK. The EU and UK were considered as the biggest trading partners but after the Brexit, this situation is completely changed. Its reason is that nowadays, some members of EU like Germany, Belgium and Ireland are against the trade between the EU and the UK. The Brexit has also caused some migration issues. Its reason is that after the Brexit vote, different countries are encouraging their workers to return to their countries because they will provide the best working opportunities for them in their own countries.

Institutional changes There are some agencies which can’t be located outside of the European Union. Before the Brexit, UK was hosting two important agencies of the EU. These two agencies were the European Medicines Agency and the European Banking Authority. After the Brexit, these agencies are shifted to the new host cities. There are 751 seats in the European Parliament and in these 751 seats, there are 73 seats of the UK. After 2019, these seats will be vacant and these seats will be distributed among the other countries according to their standard formula. Moreover, it is also expected that some other members will also join the EU.

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About Albert Barkley

Albrt Barkley is an experienced education, PhD researcher and blogger who is working with a UK based academic writing services provider firm as researcher, has served thousands of students in writing their assignments, coursework and dissertations.