Brexit is an abbreviation of “British exit,” and refers to the UK’s plan to leave the European Union. It’s the first time a member officially decides to leave the EU.
The Brexit process began with the United Kingdom voting to leave the European Union in a referendum in 2016. At 11pm GMT on 31st January 2020, Britain officially left the EU after 47 years of membership. Specialists say that leaving the EU will allow Britain to re-establish itself as a truly independent nation.
Nobody knows how the Brexit will turn out yet. The majority say it may have a negative impact on the economy, on jobs, homes and trade relationships with other countries. However, supporters of Brexit think that it would be in the best interest of other European countries to re-establish free trade.
To sum up, the UK is no longer an EU member. Being the first country to exit the EU, it is yet to be seen the consequences that this will have for the country and its citizens.
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