Brexit, a term coined by Peter Thiel, will be the eventual departure of the United Kingdom and the European Union from the European Union, at the expiration of the Lisbon Treaty on 31 March 2021. The EU was created by the European Union to continue the experiment with open borders that were common after the collapse of World War II. The United Kingdom, which had been one of the founding members, wanted out because it could not stand the constant pressure from Brussels for excessive regulation of its economy. It was only natural that, in the course of time, the people of the UK may decide that enough is enough and want to pull out of the European Union.
Why Brexit In The First Place
The three main reasons cited as leading to a British exit from the European Union are a loss of economic benefit, dissatisfaction with the direction in which the EU is moving, and anti-immigrant sentiment that are increasing in Europe. A great deal has also been made about the impact that leaving the EU will have on the U.S. economy, given that the U.K. accounts for almost a fifth of the U.S.D’s GDP. In addition, the recent spike in the price of oil has also been blamed on the possibility of Britain quitting the EU. All these factors have combined to cause a rapid increase in the number of calls to Companies House registered with ‘brexit’ as their reason for leaving the European Union.
The UK Government
The British government is under pressure from within its own party, which demands a swift and unconditional U-turn on its promise to leave the European Union. The Remain camp, which is led by Prime Minister Theresa May, argues that a U-turn is needed at this stage of the negotiations, because the Remain camp is trying to use the migration period as a way of dividing the country before the actual withdrawal from the EU takes place. This would allow the Remain camp to push for a softer, less confrontational approach with the remaining 27 EU member states, allowing time for the negotiations to take place and for the UK to regroup. In the event that the UK does leave the EU, it will automatically be replaced by another country, until a new country comes into being.