July 22, 2016 Vol. 230 by Jason Grenier, special correspondent
Britain Votes to Leave the European Union It was a tight race, and was impossible to predict whether the Leave side or the Remain side would prevail, but the long-awaited results are now in. The citizens of Britain have chosen to leave the European Union (EU). A narrow majority, 52 percent of the voters, voted in favor of the so-called “Brexit” (a combination of Britain and exit). This critical decision brings with it many worries about what the future holds, not only for Britain, but for the rest of the member countries. European integration is an idea that emerged after World War II. The hope was that a united Europe would be a more stable one, and future conflicts could be avoided through mutual co-operation between countries. Thus, EU member countries can trade goods and services freely with each other and companies can conduct operations across borders with little difficulty. Citizens of EU countries enjoy the right to live and take employment in other ones. There are, in addition, political links between EU member states. After Britain leaves, there will be twenty-seven countries left in the EU. All the existing pacts about trade, immigration, and other matters between Britain and these nations will have to be negotiated all over again. The process will be a prolonged and complicated one, and working out the countless details is expected to take several years. In the short term, there are worries about what Brexit will do to Britain’s economy. British currency, the pound, is already at its lowest level in decades. It could go even lower. The concerns go further still, since economies around the world are all closely linked. When a country as strong and important as Britain leaves the EU, it raises a lot of doubts and makes Europe less stable. Other countries may be reluctant to make investments in that country, and decide to play it safe instead. After the referendum, all eyes will be on Britain to see how the country fares after striking out on its own. If there are perceivable economic, political, and social benefits, other countries are likely to follow Britain’s lead. On the other hand, if Britain struggles “going it alone”, the experience should give other nations reasons to reconsider following the UK out. Only time will tell what the future of Europe will resemble. 1