BREXIT JUST STRUCK EU With A Devastating Blow | Leaves EU Economy In RUINS
BREXIT JUST STRUCK EU With A Devastating Blow | Leaves EU Economy In RUINS
#eu #economy #crisis
On June 23, 2016, something extraordinary happened. The people of the United Kingdom made a decision that sent shockwaves around the world. They voted to leave the European Union, an organization they had been a part of for many years.
This decision, known as Brexit, set off a series of events that have been filled with drama and uncertainty. Imagine a story with intense negotiations, political chaos, and a sense of not knowing what the future holds.
This is the tale of Brexit, a journey that has affected markets, institutions, and the everyday lives of millions of people.
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Brexit is not going well for Britain. It’s like a double blow for the country, its economy, and its people’s relationships with friends and family in Europe. Travel has become harder for leisure, business, and education, but the worst part is the lack of trust and growing doubts.
This leads to misunderstandings and weakens the bond between Britain and the EU. Despite what was promised, the future of “Brexit Britain“ is to remain part of the EU family. Before the Brexit referendum, the UK was warned that the negative consequences for its economy would outweigh the benefits.
The Leave campaign made promises about improving the National Health Service, boosting wages, and creating a prosperous economy once freed from the regulations of the common market and customs union.
They even referred to it as a “Singapore-on-Thames“ scenario. However, experts and public entities who provided evidence that Brexit would make Britain poorer, less competitive, and more isolated were discredited by misinformation campaigns.
These campaigns labeled them as fearmongering attempts to suppress the nation and prevent it from regaining sovereignty.
Ultimately, leaving the EU was mainly driven by concerns about immigration, particularly among older voters who believed that European freedom of movement threatened to change the identity of the British nation.
Seven years have passed, and the divorce that shook the nation is still haunting us. The history books are filled with endless courtroom dramas, trying to figure out who’s at fault. Everyone’s been searching for a story that can bring us back together, but it’s been one failed attempt after another. The truth is, it’s not just Brexit that’s causing our problems.
Inflation is running wild, threatening to plunge the UK into a recession that could last longer than our fellow advanced nations in the G7 and G20 groups.
There are many factors to blame: the Bank of England’s economic policies, disruptions caused by the pandemic, and even Vladimir Putin’s war in Ukraine. All these pieces have come together, leading us to where we are today – in a tough spot with poor performance.
People thought that This change was for the betterment of their country. But things went sideways for them. Brexit has been a major disappointment for the UK, according to Nigel Farage, the former leader of UKIP.
He admitted that the country hasn’t seen any economic benefits from the decision, and the Conservatives have failed to make the most of the opportunities that Brexit could have brought.
In a recent poll, a whopping 86% of respondents said that they believe Brexit has been a failure. Out of the 7,360 people who voted, 6,301 chose the option ’No, it has failed’.
People expressed their opinions in the comments section, with one reader stating that leaving the European Union has revealed the incompetence and corruption of UK leaders and politicians, particularly the despised Tory politicians.
Overall, Brexit has been described as a complete disaster in every aspect. In a shocking turn of events, Boris Johnson, the UK’s Prime Minister, who famously championed the “get Brexit done“ slogan, was forced to step down in July 2022.
His loyal supporters had turned against him due to various scandals. After his resignation, the Conservative Party embarked on a chaotic and lengthy process to find a new leader. Finally, in the autumn of 2022, Liz Truss took the helm.
However, her tenure was short-lived as she quickly implemented a flawed budget plan that caused a major economic downturn. Within a mere 40 days, she was ousted from power.
Around the same time, the UK faced numerous shortages in labor, medical personnel, food, and petrol. The residents of the country attributed these shortages to the loss of trade relationships and workers from the European Union, although the pandemic and the conflict in Ukraine were also contributing factors.
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