On June 23, 2016 United Kingdom voted to exit European Union.
Brexit: What is it?
The victory margin was less than 5%. EXIT won.
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The referendum was put on the table by David Cameron Cameron was confident that the country would decisively vote to remain and that this would unite the nation under his plans Just recently Scotland has voted to remain in the union Barely stayed One of the biggest arguments was EU
What is Brexit?
History of Europe and EU
Single Currency
Dissecting Brexit
Brexit: Post-Mortem
Roman Empire
Byzantine Empire
Frankish Empire
Holy Roman Empire
Ottoman Empire
The First French Empire
The Austro-Hungary Empire
The Nazi Germany
Europe has been at war with each other since… the beginning.
Europe after WW II
Europe after WW II
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There was a desire to ensure it could never happen again, particularly with the war giving the world nuclear weapons. Most European countries failed to maintain their Great Power status leaving two rival ideologically opposed superpowers. However, the exception was the USSR, which became a superpower after World War II and maintained the status for 45 years. - Winston Churchill's 1946 call for a "United States of Europe" came along
United States of Europe
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the Council of Europe was established in 1949 as the first pan-European organisation. In the year following, on 9 May 1950, the French Foreign Minister Robert Schuman proposed a community to integrate the coal and steel industries of Europe – Why? These being the two elements necessary to make weapons of war. France, Italy, the Benelux countries (Belgium, Netherlands and Luxembourg) together with West Germany signed the Treaty of Paris (1951) creating the European Coal and Steel Community the following year And it just kept growing
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1993, EU was formed 1999, Euro was accepted
What is Brexit?
History of Europe and EU
Single Currency
Dissecting Brexit
Brexit: Post-Mortem
Euro
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at the Bilderberg Group in 1955, there was support for a single European currency (i.e. the euro) for a common market in Europe with lower tariff rates than those outside of the common market, greater pan-European integration, based on the then six members of the European Coal and Steel Community Before a member state can adopt the euro, it must fulfil certain economic and legal criteria
obliteration of the existing exchange rate fluctuations between a number of currencies
Single Currency Advantages
reduction of transaction costs
Single Currency Advantages
stimulates trade activities and free movement of capital, goods and people
Single Currency Advantages
Economic Data
Single Currency Disadvantages
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When the U.S. Federal Reserve releases economic data showing increasing unemployment rate, falling number of new mortgages and growing number of businesses going bankrupt the most immediate consequence will be a falling exchange rate of the U.S. dollar. The same applies to the single European currency, but in addition to the data released by the European Central Bank, Forex traders around the globe take decisions whether to buy or not to buy euro depending on data about the national economies of the countries participating in the Eurozone. Hence, negative signals reported by the French or German economy could result in depreciation of the euro exchange rate as a whole despite that the economies of all other Eurozone member states are running smoothly.
No Control
Single Currency Disadvantages
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Also, the Central European Bank did not behave in different nation’s best interests. It determined the interest rates, which left nations powerless (for e.g. Greece)
What is Brexit?
History of Europe and EU
Single Currency
Dissecting Brexit
Brexit: Post-Mortem
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This was the voting result In a normal country, the result is accepted and they move on But this is UK, and it is not a “normal country” UK is kind of like EU within EU Let’s look at those results, with some numbers
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Another important fact is demographically, the leave vote was also carried by the older generation.
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Finally, let’s also look at the voting by education level
Nationalism
Problems with EU
No National Anthem
Problems with EU
Single Euro Football Team
Problems with EU
Common Tax
Problems with EU
Common Welfare
Problems with EU
Problems with Brexit
Problems with Brexit
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So where is Wales?
Problems with Brexit
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The idea that the UK consists of four countries rather than three is a relatively recent one. For much of its history, Wales has been considered a part of England, rather than a country in its own right. This is basically because the union of England and Scotland, and the subsequent union of Great Britain and Ireland, were both political unions, in which the constituent countries kept their own identities. But Wales did not join England through political union, England conquered Wales by force, and essentially just incorporated its territory into England. It should be noted that this conquest happened several hundred years before the union of England and Scotland which is when the first union flags were created. So by then the idea that Wales was separate from England was just not considered at all.
End of UK?
Ireland and N.Ireland
• EU helped with peace process
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- For Northern Ireland, not only has the EU played a significant role in the peace process, but the border and trade agreements between the Republic of Ireland and the United Kingdom would be fundamentally challenged after Brexit. As the Telegraph reports, if Brexit occurred, the boundary between Ireland and Northern Ireland – which currently allows free flow of trade and travel – would have to be strengthened. The border would then be an external EU border, requiring more controls on either side to prevent unwanted migration and monitor customs flow. Any additional restrictions on immigration increase transactions costs and hinder trade and travel,
Ireland and N.Ireland
• EU helped with peace process
• Borders have to be tightened
Ireland and N.Ireland
• EU helped with peace process
• Borders have to be tightened
• Borders require more controls
Ireland and N.Ireland
• EU helped with peace process
• Borders have to be tightened
• Borders require more controls
• Trade agreements needed
Scotland
• Since 1979, until Tony Blair no PM won in Scotland
Scotland
• Since 1979, until Tony Blair no PM won in Scotland
• Scottish Nationalism
Scotland
• Since 1979, until Tony Blair no PM won in Scotland
• Scottish Nationalism
• 2 years ago Independence referendum rejected based on staying in the EU
Scotland
• Since 1979, until Tony Blair no PM won in Scotland
• Scottish Nationalism
• 2 years ago Independence referendum rejected based on staying in the EU
• Trade agreements needed
UK
• Brexit minister David Davis: UK can deport new EU migrants and still get good deal on single market access
UK
• Brexit minister David Davis: UK can deport new EU migrants and still get good deal on single market access
• Hoping for a good exit deal
UK
• Brexit minister David Davis: UK can deport new EU migrants and still get good deal on single market access
• Hoping for a good exit deal
• Regain control
UK
• Brexit minister David Davis: UK can deport new EU migrants and still get good deal on single market access
• Hoping for a good exit deal
• Regain control
• Might see the breakup of UK
UK
• Brexit minister David Davis: UK can deport new EU migrants and still get good deal on single market access
• Hoping for a good exit deal
• Regain control
• Might see the breakup of UK
• Will still need to obey by Trade Tariffs, more tax on UK goods and services
European Union
• They can get their act together
European Union
• They can get their act together
• Make Brexit very painful and messy
European Union
• They can get their act together
• Make Brexit very painful and messy
• Otherwise might see further breakaways
European Union
• They can get their act together
• Make Brexit very painful and messy
• Otherwise might see further breakaways
• Lots of lessons especially in central banks and monetary policies
![MANUAL_05 - Post Mortem[1]](https://img.pdfslide.tips/doc/110x75/577daafc1a28ab223f8bbd1b/manual05-post-mortem1.jpg)
