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: |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
The Referendum
Though Cameron promised to renegotiate with the EU, including bargaining with the EU’s other leaders over the terms of Britain’s membership, he maintained that his decision about which side to back in the referendum would only be made after the new terms were settled. While Cameron made a new deal for Britain at Brussels which, according to him, would be a strong basis to back a Remain vote during the referendum, Eurosceptics in his own party weren’t convinced. Some experts too believed that Cameron was being deliberately vague about what changes he wanted..
The Two Sides of Referendum - Remain And Leave
The referendum of 2016 was not the first the country was facing. In 1975, two years after Britain joined the European Economic Community , a referendum was held to decide on whether it should stay. More than 67% of Britons voted in favor..
The Big Impact
Britain’s exit was expected to affect the future of Europe and the global order. Being the EU’s second-largest economy after Germany and having a powerful military, Britain exerted outsized influence on global affairs..
Impact on Britain
The major concern of those supporting the ‘Leave’ campaign was the increasing influx of immigrants into the country. From 2012 to 2015, the annual net migration from Europe had almost doubled...
Impact on the EU
According to Thierry de Montbrial, founder and executive chairman of the French Institute of International Relations, “The main impact will be massive disorder in the E.U..
Challenges Facing Britain and the EU Post Brexit
After Britain’s referendum result was out, the country faced several challenges which needed immediate attention. The EU had its own share of problems...
Way Forward
Emphasizing the need for making Brexit a success for Britain and dismissing any likelihood of a second referendum, May said, “Brexit means Brexit, and we’re going to make a success of it, there will be no attempts to remain inside the EU. No attempts to rejoin it by the back door..
Exhibits
Exhibit I: Net Long-Term International Migration by citizenship, UK, from 1975 to 2015
Exhibit II: Referendum Results
Exhibit III: GBP-USD Exchange Rate
Exhibit IV: The Debate
Exhibit V: Article 50 of Lisbon treaty
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