The term resulted from a merger of two words: Br itain and exit to become Brexit. Such process was similar to the manner in which a possible Greek exit from the euro was labeled Grexit previously. The United Kingdom held a referendum on Thursday 23 June, which was to decide whether the nation should leave or remain in the European Union. The poll turnout was England supported leaving the Union by
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In this assignment I will be considering what Brexit is and what impact it has had on financial services as well as financial institutions. On the 23rd June a referendum was held where The European Union was created in an effort to stop the war between neighboring countries. The six founding countries are Belgium, Netherlands, France, Germany, Italy and Luxemburg and in the s they all signed a deal stating that they will pool coal and steel resources, as of this the EU has 28 members. There are 4 Key institutions that work together to run the EU, which are: European Commission — The European commission proposes and enforces, laws, manages EU policies and delegates EU funding European Parliament — European Parliament is invoked in the creation of legislation, supervision as well as budgeting.
Brexit is a complicated constitutional issue that involves the exit of Britain from the European Union and has triggered many debates and discussions over the years. In a referendum held in , U. European Union is an association that facilitates the movement of people, goods, services, and capital by allowing citizens of member countries to live and work in any other member country freely. Therefore, Brexit involves the U.