To Brexit or not to Brexit?

On Thursday, June 23 there will be a referendum on whether Britain should remain in the European Union or not. There is quite a bit of controversy on whether a “Brexit”, the nickname for the movement which combines the words Britain and Exit, will better or worsen the country’s current state.

Many in favor of leaving the European Union point to the fact that the UK is one of the 10 members who puts more money into the EU budget than it gets out, with only France and Germany contributing more. With the economic issues that Europe has been dealing with the last few years due to issues such as Greece and the influx of refugees, this is something many consider of utmost importance.

Many of those against the Brexit say that if they decide to leave, the free trade that EU members enjoy between themselves will be lost.

To counter this, the “Norwegian Model” is pointed out. This would mean leaving the EU, but joining the European Economic Area. This frees them from EU rules on agriculture, fisheries, justice, and home affairs. Although this may sound like “freedom” on paper, the EU will still impose their own regulations but Britain will have no influence over how the rules are made and will also have to pay in order to access the EU market.

No matter what the outcome this June is, the shortest period of time until the full transition out of the EU was completed would be at least two years. During the transition, it has come to agreement that Britain would have to abide by EU treaties and laws but will not be able to participate in any decision making.

As of now, the future of Britain and the EU is unsure, but will definitely be something to watch for this upcoming June.

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