By: GRACE KONIG
Staff Writer
The British Exit from the European Union was named on account of the UK leaving the EU on January 31, 2020. The Brexit began on Jan. 23, 2016, which is when the United Kingdom voted to leave the EU. Residents observed that the costs of free movement of immigration outweighed the benefits of belonging to the unified monetary body. The vote was 17.4 million in favor of leaving versus the 15.1 votings to remain part of the EU. The UK will remain in the EU during the transition period until Brexit is finalized. This will also mean the UK will not be part of the “Customs Union” with the EU, which includes Northern Ireland. This will also allow Northern Ireland to adopt the EU customs rules in keeping with the Republic of Ireland. The 3 million European nationals already living in the UK will continue to live in the country without a workers visa. The 1.3 UK citizens will continue to do the same in the EU. For the future, the UK has proposed an immigration system based on workers’ skills. The UK has already suffered from the Brexit. The economy has slowed and many businesses have moved to the EU. Brexit’s biggest disadvantage is the downfall of the UK’s economic growth. This will sadly affect Britain’s young workers. Brexit will affect the United States by taking the UK off the main stage of the financial world and will only make US stock markets go down.