Differences Between Britain And The EU
Britain and the EU
Britain have had a long and complicated relationship to the EU since it was established, to Britain joined the EU and until today. Britain joined the EU or the European Community as it was called then in 1973. Two years after there was a referendum in Britain about whether they should stay in the union or not. 66% voted to stay, and this was the last referendum Britain have had about staying or leaving the EU. In 1991 the Maastrict Treaty was signed, this treaty said that the EU should make a single currency for all the membership countries. This currency was made to challenge the dollar and its international supremacy. However, former Prime minister John Major did not want Britain to be a part of this single currency and got Britain an ‘’opt out’’ clause. This meant that they …show more content…
As of now, the EU is the UKs main trading partner, with 52% of the total trade in goods and service. This trade with the EU is worth more than 400 billion pounds a year. If Britain were to withdraw completely from the EU then we would see trade barriers erected with tariffs on 10% on imported goods. Making it more expensive to export to Britain and import from the EU. Another concern from EU enthusiasts is that if Britain left the EU it would be harder for Britain to compete in a global trading market dominated by the US, China and the EU. However, EU sceptics says that even if they do not come to an agreement on a free trade deal it would not be as bad as some people claim. Britain would be in a situation similar to that which the US, China and India are in now. All of these countries manages to export and import goods to the EU with relative ease. On top of that Britain would be able to make bilateral trade agreements with countries such as China, Singapore, Brazil, Russia and India. All of which are up and coming economies compared to the EU, which is now in
Britain have had a long and complicated relationship to the EU since it was established, to Britain joined the EU and until today. Britain joined the EU or the European Community as it was called then in 1973. Two years after there was a referendum in Britain about whether they should stay in the union or not. 66% voted to stay, and this was the last referendum Britain have had about staying or leaving the EU. In 1991 the Maastrict Treaty was signed, this treaty said that the EU should make a single currency for all the membership countries. This currency was made to challenge the dollar and its international supremacy. However, former Prime minister John Major did not want Britain to be a part of this single currency and got Britain an ‘’opt out’’ clause. This meant that they …show more content…
As of now, the EU is the UKs main trading partner, with 52% of the total trade in goods and service. This trade with the EU is worth more than 400 billion pounds a year. If Britain were to withdraw completely from the EU then we would see trade barriers erected with tariffs on 10% on imported goods. Making it more expensive to export to Britain and import from the EU. Another concern from EU enthusiasts is that if Britain left the EU it would be harder for Britain to compete in a global trading market dominated by the US, China and the EU. However, EU sceptics says that even if they do not come to an agreement on a free trade deal it would not be as bad as some people claim. Britain would be in a situation similar to that which the US, China and India are in now. All of these countries manages to export and import goods to the EU with relative ease. On top of that Britain would be able to make bilateral trade agreements with countries such as China, Singapore, Brazil, Russia and India. All of which are up and coming economies compared to the EU, which is now in