What does 'Brexit' stand for? Br- itish Exit from the EU

R.B · 2016-06-23T10:04:45+00:00

What does 'Brexit' stand for? The term is a commonly used abbreviation for Br- itish Exit from the EU. Who will be voting? British, Irish and Commonwealth citizens over 18 who are UK residents, along with UK citizens living abroad who have been on the electoral register in the UK in the past 15 years will be allowed to vote. EU citizens will not be allowed to vote, even if they are UK residents. Some voters have already cast their votes by post. Who wants to remain and who wants to go? David Cameron, the British prime minister, and most members of the Conservative Party's government, including Chancellor George Osborne, are backing the "Remain" campaign. The Labour Party and its leader Jeremy Corbyn, the Liberal Democrats, the Green Party, Plaid Cymru, Sinn Fein and the Scottish National Party are also supporting Britain's continued membership of the EU. All living former British prime ministers, from both political parties, are also "Remain" backers. The "Leave" camp has two prominent leaders: Michael Gove, the secretary of state for justice, and Boris Johnson, former London mayor. Nearly half of the Conservative MPs are also backing the "Leave" campaign. Far-right, anti-immigration party UKIP and its populist leader Nigel Farage are backing Brexit, along with other far-right groups in the UK, such as Britain First. What will happen after Brexit? Leave: If the "Leave" campaign wins the referendum on Thursday, analysts expect that Cameron could face calls to resign immediately or at least set a timetable for his departure. On the economy, the expectation is that there would be a plunge in the value of the pound and share prices in the immediate aftermath of a Brexit, causing the Bank of England to raise interest rates. "If we choose to go out of the EU, we will go out – with all of the consequences that will have for everyone in Britain." David Cameron, Prime Minister Article 50 of the Lisbon Treaty, which guides member states wishing to leave the EU, is a vague map towards the exit door. Cameron previously said that in case of a "Leave" vote, the government would invoke this article immediately and start the long and complicated Brexit process. "There is no turning back if we leave," he wrote in a Sunday Telegraph article . "If we choose to go out of the EU, we will go out - with all of the consequences that will have for everyone in Britain." But, even if the British government invokes article 50 on June 24, it would take Britain up to two years to actually leave the EU. During the two-year negotiation period, EU laws would still apply to the UK. The UK would continue to participate in other EU business as normal, but it would not participate in internal EU discussions or decisions about its own withdrawal. Once Article 50 is triggered, the terms of Brexit will be negotiated not by British politicians or diplomats, but by the other 27 nations of the EU. And, when the members are ready, they will present the British government with a departure agreement on a "take it or leave it" basis.

Thread starter R.B
Start date Jun 23, 2016

R.B

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What does 'Brexit' stand for? Br- itish Exit from the EU

R.B

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