Slings and Arrows

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Whether or not Britain leaves the EU remains to be seen on June 23rd, though recent surveys suggest a significant 19 point lead for the Leave campaign[7]. Looking at it from a purely economic perspective, a Brexit will surely impact business, with a number of companies like Airbus, BMW and Mini [8][9] warning employees about hit to business. With the economic recovery still tepid, Britain is not in a comfortable position to leave the European Union. However, it comes down to British sovereignty and the fact that they will be able to make their own rules, close down borders to immigrants, and save billion of pounds in payment every year [10]. The economic impact will all depend on how quickly the United Kingdom can reach a free trade deal with the EU if it decides to leave. This may be difficult, as certain countries like France have already stated that there will be “consequences” if Britain leaves EU, and may not be readily amenable to an economic deal [11].

References:

- Kristin Archick(2016), The European Union: Questions and Answers. Congressional Research Service

https://www.fas.org/sgp/crs/row/RS21372.pdf. Accessed on June 10 2016

- Indraja Gugle(2008). Europe decoded-Understanding differences between EU, Schengen Area, Scandinavia and Nordic countries http://www.embarq.in/blog/Europe-decoded-Understanding-differences-between-EU--Schengen-Area--Scandinavia-and-Nordic-countries.html. Accessed on June 10 2016

- Mark Leonard(2015). The British problem and what it means for Europe. Eupropean Council on Foreign Relations. Page 6.

http://www.ecfr.eu/page/-/ECFR_128_BREXIT_(March_-_final).pdf. Accessed on June 10 2016

- Professor Eleanor Spaventa (2016). Explaining the EU deal: the ‘emergency brake’. FullFact.

https://fullfact.org/europe/explaining-eu-deal-emergency-brake/. Accessed on June 10 2016

- Paul Craig (2016). Explaining the EU deal: the UK and the Eurozone. FullFact.

https://fullfact.org/europe/explaining-eu-deal-uk-and-eurozone/. Accessed on June 10 2016

- Professor Sionaidh Douglas-Scott. Explaining the EU deal: an "ever closer union". FullFact.

https://fullfact.org/europe/explaining-eu-deal-ever-closer-union/ Accessed on June 10 2016

- Giannangeli, Marco. “End of EU rule FINALLY in sight: Leave camp take 19-POINT lead as Britons flock to Brexit”. The Daily Express. Pub: June 13 2016. Web. Accessed on June 10 2016

- Johnston, Ian. “EU referendum: BMW warns staff in UK Rolls Royce factories of Brexit risks”. The Independent. Pub: 3 March 2016. Web. Accessed 10 June 2016.

- Stacey, Kim; Parker, George. “Politics and Policy”. The Financial Times. Pub” April 4 2016. Web. Accessed on June 10 2016

- Full fact Team (2016). The UK's EU membership fee. FullFact. https://fullfact.org/europe/our-eu-membership-fee-55-million/. Accessed 10 June 2016

- Sparrow, Andrew. “EU referendum: Hollande says Brexit would have 'consequences' which could affect Calais border deal - Politics live”. The Guardian. Pub: 3 March 2016. Web. Accessed on June 10 2016