Article 50

Earlier this week, the United Kingdom Parliament passed the Brexit Bill, a significant legislation that will allow the Theresa May government to trigger Article 50. This will initiate the process of leaving the European Union. Campaigners for Brexit have called this vote a "clear mandate" for the UK government to begin its official negotiations. In June last year, Britain had voted to leave the European Union. In the short term, uncertainty about the British economy will loom large, especially its future relationship with the EU. For the uninitiated, the EU is Britain's biggest trading partner. Economists predict that the implication of 'Brexit' in the long run could be a lot worse. The May government will have a very tough job of negotiating a favourable trade deal with the EU. They contend that the EU will strike a hard bargain to discourage other countries from leaving the Union. It's a substantial net loss for businesses based in the UK.

Despite the potential shock to the economy, advocates of 'Brexit' have argued that in the long run, Britain will be better off with complete sovereignty and control over economic regulations and immigration. At the heart of the pro-Brexit push is the issue of immigration. Instead of blaming poor economic policy, many in the pro-Brexit camp have accused migrant workers from the EU for the job crunch. The argument for sovereignty holds some legitimacy in the continent, but not in Britain's context. Britain has already watered down and opted out of many EU agreements. For example, it refused to join either the Schengen Area, which eliminates internal border controls or the common currency (Euro). One hopes that the Brexit will compel EU leaders to make the economic union more democratic and less big-business-centric. If the EU does not take the required steps, it will lead to further disintegration of the EU. The May government has already reached out to establish better trade ties with India, for example, to offset the potential shock to British businesses. Nonetheless, the decision to pass the Brexit Bill has triggered a revolt among its flock of nations. Scottish First Minister Nicola Sturgeon has said she would seek a second referendum to seek independence from the UK. Scottish leaders have been vocal against Brexit, calling it a "devastating act of sabotage on Scotland's economy".

The May government will have a very tough job of negotiating a favourable trade deal with the EU. They contend that the EU will strike a hard bargain to discourage other countries from leaving the Union. It's a substantial net loss for businesses based in the UK. Despite the potential shock to the economy, advocates of 'Brexit' have argued that in the long run, Britain will be better off with complete sovereignty and control over economic regulations and immigration. At the heart of the pro-Brexit push is the issue of immigration. Instead of blaming poor economic policy, many in the pro-Brexit camp have accused migrant workers from the EU for the job crunch. The argument for sovereignty holds some legitimacy in the continent, but not in Britain's context. Britain has already watered down and opted out of many EU agreements. For example, it refused to join either the Schengen Area, which eliminates internal border controls or the common currency (Euro). One hopes that the Brexit will compel EU leaders to make the economic union more democratic and less big-business-centric. If the EU does not take the required steps, it will lead to further disintegration of the EU. The May government has already reached out to establish better trade ties with India, for example, to offset the potential shock to British businesses. Nonetheless, the decision to pass the Brexit Bill has triggered a revolt among its flock of nations. Scottish First Minister Nicola Sturgeon has said she would seek a second referendum to seek independence from the UK. Scottish leaders have been vocal against Brexit, calling it a "devastating act of sabotage on Scotland's economy".

For example, it refused to join either the Schengen Area, which eliminates internal border controls or the common currency (Euro). One hopes that the Brexit will compel EU leaders to make the economic union more democratic and less big-business-centric. If the EU does not take the required steps, it will lead to further disintegration of the EU. The May government has already reached out to establish better trade ties with India, for example, to offset the potential shock to British businesses. Nonetheless, the decision to pass the Brexit Bill has triggered a revolt among its flock of nations. Scottish First Minister Nicola Sturgeon has said she would seek a second referendum to seek independence from the UK. Scottish leaders have been vocal against Brexit, calling it a "devastating act of sabotage on Scotland's economy".