EUROPEAN UNION:

European Union is an international union of 28 nations (inc Britain) as a trade and monetary body. Its motivation is to be more focused in the worldwide commercial center. In the meantime, it must balance the requirements of its autonomous financial and political individuals. It was founded in 1951.

HISTORY OF EUROPEAN UNION:           

The concept of European trade area first came out in 1951 by the European coal and steel company. It had 6 founding members. Later, in 1957, a common market was established following the treaty of Rome. In 1968, custom duties were abolished and standard policies were put in order, in trade and agricultural arena particularly. The first parliament of ECSC was established in 1979 with the addition of various other states. In 2009, another treaty was signed in Lisbon it enhanced the powers of European parliament manifolds. It provided the European Union the legitimate authority to sign and negotiate the international treaties. It also allowed the EU to control borders, issues related to immigration, the judicial cooperation in criminal and civil matters as well as police. It abandoned the idea of a European Constitution. European law is still established by international treaties.

FEATURES OF EUROPEAN UNION:

The most important feature of European Union as an organization towards its member states is the economic department and financial issues. They provide lending rates for banks and cater the problems related to inflation that may arise in the member states. In order for a state to decide whether to join European Union is a question that holds not only political importance for the government but also for the layman who might not have any concern with the political elite of the country, Because inflation in case of any sort of economic crisis would have a direct impact on him.

Every organization, no matter how big or small may it be has its benefits and drawbacks that must be considered before joining it by the states. European Union is no exception, it has plenty of pros that it offers not only to the member state on regional level but also at the global level causing global harmony and integration thus peaceful co existence.

The first thing that is important to mention that EU provides to its member states is the tax free trading. The EU member states are given the opportunity to trade with no imposition of tax across the borders. This keeps the prices of the goods and other useful stuff lower and affordable, hence controls inflation.

Another feature that attracts the countries towards European Union is the fact that it brings the people from different countries closer diminishing the border differences. It allows the people of the member states to travel free without any visa. It opens up gates to various opportunities’ from the people in terms of jobs, education and much more. This is beneficial especially for the people belonging to the poor member states.

It becomes an attractive option for the countries/states to become a part of because it respects the cultural sovereignty of all the states. It does not have any official language or an official day which may be celebrated throughout the European Union member states thusly respecting the states’ integrity and allowing them to follow their own traditions and cultures with total freedom and without making them feel intruded.

Another important factor that is beneficial not only for the member states but also for the world as a whole because it promotes peace and harmony among the nations who are the member of the organization. There are strict rules took after for any issues that happen inside the EU. This keeps any of these nations from getting into huge political or practical issues with each other and advances peace all through the mainland.

Just like every coin has two sides, everything in this world has some negatives as well. So does European Union. Since I have already mentioned the pros for the member states of the European Union following are the few drawbacks that need to be mentioned as well.

The first and the foremost factor is the fact that as discussed earlier, the European Union is an economic based organization which deals with the financial matters of the states that are its members. It distributes the wealth among all the countries on equal basis. This might be unfair to the states that carry the capability of becoming the super powers. The shared wealth creates frustrating among the states like Germany as well as in case of Brexit this factor played a great role. The policies of the European Union are extremely binding and strict. Withdrawing from it is very difficult for the member states. This is one of the reasons that many states have refused to join European Union in the first place.

As mentioned above that European Union does not have any official language, which on one hand makes room for cultural sovereignty simultaneously on the other hand creates a language or communication barrier where people lack communication and hence it impacts the unity of the member states.

The European Union has control over the administration in these nations. This implies on the off chance that they don’t care for a political pioneer, they can basically show them out of office. It is extremely straightforward for this to break the lines of debasement and cause significant issues in government divisions. Moreover, in order to be a part of European Union, a state must be a part of Europe which creates a sense of partiality among the states of the world. The borders are not defined for Europe which gives the union an authority to choose its members based on personal interests.

The arrangements, choices, and guidelines set up by the European Union are not there to secure the best enthusiasm of every individual nation. Rather, they will likely propel the EU in general. This has caused harms in littler nations that are regularly left unheard.

BRITAIN AND EUROPEAN UNION:

The United Kingdom made its first application to participate in the European Union in 1961. It was rapidly obvious that there was a threat of political separation inside Western Europe, Commonwealth states were hurrying to form the new coalition, and it had American help. This application was vetoed by the French Government in 1963 with a moment, later the application was made again in 1967 which was vetoed by the French again in 1967. It was only in 1969 that the green signal was given Britain to become a formal part of the European Union. The United Kingdom joined the European Economic Community (EEC) as it was called at that time on 1 January 1973 along with Denmark and Ireland. This demonstrated dubious at the time. The Labor party at first looked for renegotiation of enrollment. This was conditioned down to requiring a choice on whether the United Kingdom ought to remain a part of the Community. This referendum was appropriately held in 1975 with a 67% vote for proceeded with enrollment of Britain into the union.

BENEFITS TO BRITAIN:

·         FREEDOM TO TRAVEL:

As an individual from the EU, UK natives advantage from opportunity of development over the landmass. Considered one of the alleged four mainstays of the European Union, this opportunity enables all EU nationals to live, work and goes in other part states.

A British individual to has the privilege to remain in some other EU nation giving they have a legitimate UK identification.

·         SUSTANANCE OF JOBS:

A report by the Center for Economics and Business Research, discharged in October 2015, recommended 3.1 million British employments were connected to the UK’s fares to the EU.

·         SUBSIDIES TO THE FARMER:

European Union conjointly provides hefty subsidies to British farmers, serving to bolster agriculture and guarantee job stability a huge number of directly concerned in farming, and people operating in sectors associated with the trade.

 

EFFECT IN BRITAIN’s ECONOMY:

Britain became a part of European Union in 1973, at that point of time it’s economy was weak and it was below many countries of Europe. It was in a dire need of stabilizing its economy to which European Union played a vital role. The UK’s economy was so ruined that by the late 60’s states like France, Italy and West Germany which are considered to be equal to the UK, had better economic conditions. They delivered more per individual than it and the hole developed bigger consistently.

If a comparison is to be carried out between the Britain’s GDP per head before and after its entrance into the European Union and the three aforementioned states, it is estimated that the GDP rose 95 for every penny in France, Italy and Germany and on the contrary in case of Britain it was just 50 for each penny.

In the wake of turning into an EEC part, Britain gradually started to make up for lost time. Total national output per individual has become quicker than Italy, Germany and France in the over a long time since. By 2013, Britain turned out to be more prosperous than the normal of the three other substantial European economies out of the blue since 1965.

It is evaluated that how Britain would have fared in the event that it had not joined the normal market. the best estimate to Britain’s pre-1973 financial execution to be a mix of New Zealand and Argentina, which like the UK fell behind the US and mainland Europe.

BREXIT:

The word, Brexit is the combination of Britain and Exit as it is derived from the Greek concept Grexit. Brexit is Britain exiting from European Union as a result of a referendum that took place all across the UK in 2016. The brits decided to bid Good bye to the European Union with marginal majority of 52%. Since we have discussed that how European benefits its member states with a lot of economic and miscellaneous pros, the question then arises that what made the Britain exit European Union?

There are many reasons, but the most important and foremost reason is Economic in nature.