EU stamped seal on breakage

Why in the discussion?


At the special summit of the European Union held in Brussels, Belgium on November 25, leaders from 27 countries approved the UK's 'brazet' proposal. Now on March 29, almost all the barriers to the European Union coming out of the European Union have disappeared.

What happened at the summit?

  • In the absence of British Prime Minister Theresa May, 27 EU leaders stamped the Treaty on the special summit of the European Union held in Brussels. This approval is the most important result of a break agreement between the UK and the European Union.

What is a breakage?


Let's first know that today's world is being discussed, after all what is the breakage? Two words- Britain + Exit is made up of Brexit, which means the exit of Britain. The referendum was held in the United Kingdom in June 2016 on the issue of exiting or not leaving the European Union. In this, people had decided in favor of exit from the European Union with the difference of very few votes. It was argued to retain Britain's sovereignty, culture and identity.
  • Let us know that Great Britain consists of three countries - England, Wales and Scotland ... and when we talk to the United Kingdom, Northern Ireland also joins with these three.

What's the issue?


Many people in the UK believe that after joining the European Union, its interference has increased significantly in the UK. The supporters of the Brackets believe that the European Union has not been as usual and it is affecting the daily lives of the Britishers. Indeed, Brax has made an atmosphere of uncertainty in the UK. The UK's decision to come out of the European Union (BRACZIT) has raised many big questions. like-
  • When Britain is different, will its economy become weak?
  • What will be the citizenship of those living in the UK from the countries of Europe?
  • Will they be allowed to stay in Britain or not? Will Britain's citizens stay in Europe or not?
  • Will the citizens of the two countries have the freedom to enter the visa without a visa?
  • Will mutual trade be done under the free trade agreement like before?
Apart from this, the UK High Court has also raised the problems in front of the government. Now before the separation from the European Union, the UK government will have to vote in parliament on this issue. As per the High Court directive, the British Parliament will have to vote on the issue that the process of separation from the European Union can be initiated or not.

What is the European Union?


The European Union was started in 1957 with six member countries. Under the Treaty of Rome, these six countries had gathered for economic participation. Today there are 28 member countries in the European Union including the United Kingdom. It recognizes member countries as a single market. There are 23 official languages ​​of the European Union and its laws apply to all countries of Europe.
I

United Kingdom in the European Union

  • The United Kingdom became a member of the European Economic Community in 1973.
  • In spite of this, Britain adopted Pound as its currency, whereas in most European Union countries, currency is the currency of the euro.
  • The UK did not even join the Schengen Border-Free Zone, which offers passport free travel in the European Union.

Prior to the referendum


There has been a referendum on this issue in the United Kingdom even before the referendum on June 22, 2007. In 1975, the then Prime Minister Harold Wilson had made a referendum on the issue of anti-government voices in the country on the issue of continuing with the European Economic Community (then the same name of the European Union). In this referendum, 67 percent of the people gave opinion in favor of being in it.
    • According to the Breakpit Agreement, the UK will be formally separated from the EU on March 29 next year.
    • After this, there will be transition period between the two sides for 21 months i.e. during this period the UK will remain in a single market.
    • During this period, Britain will be able to take advantage of Zero Tariff in the European Shared Market and European Customs Union.

    What will be the impact on India?

    • Britain sees India as a big market. Since 2000, UK companies have invested about $ 16 billion in India, which has resulted in the employment of millions of people.
    • About 800 companies in India have invested in the UK, from which large number of employment opportunities are available to the people in the UK.
    What will be the impact on them after the breakage and how their business will work, especially those companies that are doing business with EU countries. If the euro and pound devaluation after the breakage, then it will have an impact on the stock market and money market of India.
    • About three million people of Indian origin live in Britain, who are worried about being one of India's biggest concerns.
    • A large number of people go to Britain every year from India, which include tourists, businessmen, professionals, students, and there are also a large number of relatives of Indians living there.
    But there is also a second aspect of it. Experts believe that there will be a possibility of more opportunities for countries like India, in the atmosphere of instability after Britain's separation from the European Union. In such a way, ignoring Britain as a big market would not be easy for Britain, but it would be more important to keep a better relationship with India than ever before.

    Source: The Hindu, Indian Express

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