UK and EU, how will it end?
On June 23rd 2016, the UK will hold a referendum to vote whether the UK should leave the EU. This decision has stirred a massive debate within the United Kingdom between those pushing for remaining and those that believe they should leave. While it is the politicians and economists that are leading the two opposing camps, at the end of the day the decision lies in the hands of the people. This begs the question if this is a decision that the people are informed enough to make.
The decision to leave the EU would have massive implications for England and the EU's economy, but that isn't where it ends. One cannot overlook the significance of this decision on the global economy. It is generally agreed that there would be a shock to the economy but the definition and extent of that shock are where opinions diverge.
The G20, for example, have voiced their dire warning through Chancellor, George Osborne, who said “Here at the G20, finance leaders and central bank governors of the world’s biggest economies have raised serious concerns about the risks posed by a UK exit from the EU. They have concluded unanimously today that what they call the shock of a potential UK vote to leave is among the biggest economic dangers this year.”
The effects of England leaving the EU are numerous and far reaching. For starters is the effect on the economies, be it England's, the EU's or global. This is a precedent whose full results we won't know for a long time, with many speculating that this might lead to other countries choosing to follow suit. What we do know for certain is that such a separation will have a significant impact.