Britain after Brexit: an Uncertain Future Ahead

Britain after Brexit: an Uncertain Future Ahead
Case Code: ECON058
Case Length: 16 Pages
Period: -
Pub Date: 2017
Teaching Note: Available
Price: Rs.600
Organization :
Industry :
Countries : Europe
Themes:
Britain after Brexit: an Uncertain Future Ahead
Abstract Case Intro 1 Case Intro 2 Excerpts

Abstract

The case discusses Britain’s exit from the European Union (Brexit) and its impact on Britain and the EU. Since the entry of Britain in the EU, there had been growing concern among Eurosceptics to reconsider the country’s membership in the Union as it represented, what they felt, was an unacceptable transfer of powers to the EU. The global financial crisis of 2008 and the Euro debt crisis, along with increased immigration into Britain from the EU member countries, saw a manifold increase in the opposition by Britain’s population to its EU membership. This resulted in Britain’s Prime Minister declaring a referendum to decide on to remain with or leave the EU.

The case explains the two aspects of the referendum and the final result when Britons voted to exit the EU. Brexit was expected to affect various sectors of Britain including trade, manufacturing, FDI, immigration, and financial services. Analysts feared that Brexit might lead to disintegration of the EU in the long run. Further, post Brexit, the EU and Britain would be entering into new agreements whose terms and conditions were yet to be decided. It remained to be seen how well Britain would perform after exiting the bloc and how member countries of EU would cope with Brexit. Only the coming years would reveal how well Britain and the EU would handle the challenges facing them post Brexit. The case poses the question whether Brexit signaled a move by countries toward protectionism and away from globalization.

Issues

The case is structured to achieve the following teaching objectives:

  • Analyze various factors that triggered Britain’s exit from the EU.
  • Understand the process of entry and exit from the EU.
  • Examine trade policies with EU members and discuss the pros and cons of being a part of the EU.
  • Study the sources of possible gains and losses from Brexit while understanding the trade policy of Britain before and after Brexit.
  • Critically analyze whether Brexit signaled a move by countries toward protectionism and against globalization .

Contents

Keywords

Brexit, European Union, Britain, Immigration, David Cameron, Theresa May, Eurosceptics, Remain Campaign, Leave Campaign, Eurozone Debt Crisis, Free Trade Agreement

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