M3A2 Debate Remain in EU.docx

M3A2 Debate Remain in EU.docx - 1 Running Head REGIONAL...

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1 Running Head: REGIONAL ECONOMIC INTEGRATION DEBATE Regional Economic Integration Debate Laurie Cugino BUS 502: Global Business Environment Dr. Orlando Rivero, Instructor Excelsior College July 16, 2017
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2 REGIONAL ECONOMIC INTEGRATION DEBATE Why Britain should have stayed in the EU 1. Economically, Britain would benefit greatly from tariff-free imports and exports with countries within the EU. Membership in the EU would grant Britain the power to influence the legal and regulatory regimes established within the European Union, rather than merely adjust themselves to any changes in those regimes to continue trading (Gilmartin, 2017, pg 36). 2. The EU passport allows financial services firms to operate across the member states on the basis of their home state authorization, without needing to be separately authorized in each EU state (Currie, O'Brien, & Yonge, 2017). Over 8,000 EU firms outside the UK use the passport to provide services into the UK. 3. UK has traditionally been seen as leading the way in implementation of EU regulation, and the example set by the Financial Conduct Authority serves as a sound foundation for other member states’ adoption of EU law (Currie, O'Brien, & Yonge, 2017). Brexit of the UK would significantly impact the balance of EU regulation. Response to Joseph's Pro-Exit Arguments Joseph: Politically speaking, the EU is regressive in nature. The EU in theory is a way to centrally represent all of its members of various countries; however, a large majority of the British population view the EU as undemocratic and reminiscent of an antiquated roman empire, (King, 2015). Laurie: Many now see the European Union as an emerging economic and political superpower of the same order as the United States (Hill, 2015). The EU is made up of a governing body including the European Commission, the Council of the European Union, the European Parliament, and the Court of Justice (European
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