BREXIT (UK's departure from the EU)

EENI- School of International Business

Subject - BREXIT (UK's departure from the European Union). Syllabus:

1. Introduction to the Brexit (the United Kingdom leaving the European Union)
2. The Economic and Political Implications of the BREXIT
3. The Chronology of the BREXIT
4. The New Settlement for the United Kingdom within the European Union

The objectives of the subject “The BREXIT” are the following:

1. To understand the causes of the BREXIT and its economic implications
2. To analyse the BREXIT process
3. To understand the New Settlement for the United Kingdom within the European Union

Sample of the subject - BREXIT (UK's departure from the EU):

Description of the Subject: BREXIT (UK's departure from the EU)

The BREXIT, or departure from the United Kingdom of the European Union, occurred on 29 March 2017, when it was notified by letter to the European Council, based on Article 50 of the Treaty on the European Union (Voluntary and unilateral withdrawal clause), Its decision to leave the European Union.

The President of the EU, the Polish Donald Tusk, said: “There is no reason to say that this is a happy day, neither in Brussels nor London”.

In this way, the European Union of twenty-eight members is now twenty-seven members.

The BREXIT has significant implications that generate uncertainties:

1. Globally. The International Monetary Fund estimates that it could mean a loss of 0.1% in the growth of the world economy
2. The European Union.
   1. Since it loses one of its net contributors, in addition to being the second economy of the EU
   2. The European exporters will lose competitiveness in the UK market
3. In the UK.
   1. For example, the United Kingdom will not be able to benefit from the numerous EU's Free Trade Agreement and Association Agreements: Mexico, Georgia, Korea, Lebanon, Egypt, South Africa...
   2. The British companies will not form part of the European Single Market (EU) or the European Economic Area. Neither will they be part of the Customs Union with Turkey
   3. Even potential risks of internal rupture have been identified (Scotland, Northern Ireland)
4. Many European companies will be able to benefit from the BREXIT, for example, in all markets in which the European Union has free trade agreements in force since the United Kingdom will be excluded from all of them
5. Two European agencies, the European Banking Authority and the European Medicines Agency, will no longer be in London
6. The United Kingdom will surely cease to be a member of the Asia-Europe Economic Meeting (ASEM) and many other EU-led organisations
7. The United Kingdom will no longer form part of the European Central Bank (ECB), the European Economic and Social Committee or the European Investment Bank, among others
8. Exporters from the third countries will no longer be able to benefit from the EU's Generalised System of Preferences (GSP)
9. Etc

Europe