Challenge to the European integration, The case study of brexit.

Abstract

Since its inception, uncertainty has surrounded the question of Brexit. This study basically investigates the recent global financial issue of Brexit. At one point we analyse that excessive immigration from European countries to UK and may reduce the challenges for UK would reduce unemployment and improve their living standards. Brexit is having an impact on EU economy. UK and EU both were enjoying the benefit of single market where UK is the buyer and EU is the seller, which makes it easy for both to have a fair trade with each other. If hard Brexit happens then both EU and UK won’t be able to have this trade between them which makes its difficult for both to enjoy the facilities of free market. EU must find new seller for its sales and UK has to buy from other regions of the world which would cost UK a costly trade route. UK should negotiate bilateral trade agreements with several major individual jurisdictions, focused primarily on reducing competitive barriers in specific markets. It should propose a set of deeper market-opening commitments with groups of like-minded countries. Brexit may set a precedent for other member states and other member states may demand alike. In absence of UK, these interest groups and political parties may push for certain policies that could make the issue more acute. Another impact of Brexit would be impact of Brexit would be that the member States going into dealings with the UK will know that the adequacy of the EU's arranging techniques will be deliberately analysed by their very own local bodies electorate and that they should show their strength. Member states may feel the burden of donating more funds as UK is one of the biggest contributors to the EU. This study, by employing the analytical framework this study analyses that With Brexit, one can assume that EU’s foreign policy may not be effective hence less influential.UK argued that introducing a defence cooperation mechanism may undermine the significance of NATO. After Brexit UK must make its defence system strong, as UK and France are the main when it comes to defence. UK being an alliance of US was helpful for EU in having a contact with US. impact There are possibilities that UK-EU trade may grow but then again chances are that certain member states may take the blow of Brexit badly. . With UK no more a member of EU, the allotted 73 out of 751 seats to UK in European parliament will become vacant. There have been discussions in the parliament that the 22 seats of the 73 would be redistributed among the members while the remaining to be kept for new members. The remaining 50 seats can also be kept for trans-national list of MEPs., which tells that Brexit is going to have serious impacts in every form .