Britons reject the European Union

 28 Jun 2016 - 1:54

Dr. Khalid Al-Shafi

With a slight majority, not exceeding two percent, Britons voted to exit the European Union (EU). The referendum was one of the major events faced by the EU during the past few decades. Due to its expected impact on the future of Europe and the entire world, it has drawn great attention. Global market prices were shaken, showing that the UK is still a greatly influential state, enjoying a leading position in the world.
As observers of the referendum, we have seen people everywhere waiting for the result and its consequences, about which analysis has differed.  
Economists are highlighting the volume of losses and risks to Britain for deciding to leave the EU. Leaving the old continent will keep UK safe from the continent’s problems including migration from Eastern Europe, under the absence of the principle of reciprocity in order to access privileges. Supporters of Brexit think that there were lost jobs and that unemployment rate had increased at the same time as their country was giving an annual support to the new members of the EU of $11bn.
Whatever the differences in opinion are, no doubt the EU is likely to lose the UK, and the UK will face some difficulties, at least during the exit process — in particular in the value of its currency which initially declined by 10 percent. Such challenges are expected until the situation has become normal.
Under the current division of the population, reactions will continue, as Scotland’s First Minister has suggested that the Scottish parliament could block the passage of legislation necessary for the UK to leave the EU, in addition to suggesting another referendum about keeping the UK in EU.
Also, the population of London city produced a petition, signed by over three million, demanding that UK remain in EU. The parliament must discuss any petition signed by more than 100,000 people and such initiatives make the task of policy makers tougher.
We will keep observing the developments and consequences of the referendum’s outcomes and what it will bring to the scene. What we want for the UK is further peace and stability, and to see Britons going about their lives in the way they like.