Implications of the Brexit Referendum to the Global Economy.edited.docx

Running head: BREXIT REFERENDUM AND THE GLOBAL ECONOMY 1
Implications of the Brexit Referendum to the Global Economy
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Affiliation
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BREXIT REFERENDUM AND THE GLOBAL ECONOMY 2
Implications of the Brexit Referendum to the Global Economy
Opinion
Brexit was when the United Kingdom withdrew from the European Union, including European
Atomic Energy Community, on 31
st
January of 2020. It was the first and the only country to
withdraw from the European Union after its active participation for Forty-five years in the EU. It
first became a member state in January 1973. In my view, the United Kingdom, to a larger should
not have withdrawn from the European Union because Brexit is most likely to harm the United
Kingdom economy and the Global economy directly.
Supporting statements
All the institutions of the EU and their member states have developed exponentially after the
establishment of the European Union in 1973and have contributed a lot to the development of
the British membership (Catherin, 2020). European Union body itself has been the direct
determination and the obvious sign to its development and impact on the Globe. Since the
establishment of the European Union, there have been Eurosceptic groups since time memorial
that have been in complete opposition to the ideologies presented by the body, including the
predecessors of the EU, mainly the United Kingdom. Following the elections that were made by
the Prime minister Rt. Hon Harold Wilson in the pro-EC government held in the referendum for