One of the most important news of the year was that the EU, which represents one of the largest financial unions in the world, could collapse. Some analysts persuaded the media that the first step towards the weakening and collapse of the EU was Brexit. In a referendum on June 23, 2016, 51.9% of British voters voted in favor of leaving the United Kingdom. On March 29, 2017, the British government invoked Article 50 of the Treaty on European Union. This means that the United Kingdom will exit on March 29, 2019. In July 2016, a new government department was created specifically for Brexit, called "The Department for Exiting the European Union" (DExEU). Previous facts confirm that soon the number of members of the European Union will decrease and only 27 countries will remain. Say no to plagiarism. Get a tailor-made essay on 'Why violent video games should not be banned'? Get the original essay The Lisbon Treaty included Article 50, an agreement signed by all EU states and became law in 2009. Before him, there was no formal mechanism for a country to leave the EU. It is quite short – just five paragraphs – and specifies that any EU member state can decide to leave the union. It will take two years to reach a deal and leave the union, as governments are expected to analyze Britain's financial capabilities to maintain economic stability after Brexit. The post-departure trade deal is likely to be the most complex part of the negotiations because it requires approval from more than 30 national and regional parliaments across Europe, some of which may want to hold referendums. As Prime Minister May further stated, the UK would remain a member of the European single market, a market which ensures the free movement of goods, capital, services and citizens. The market encompasses all 28 EU member states and three post-Soviet countries, Georgia, Moldova and Ukraine, have gained access to the “four freedoms” of the single market. Brexit is a long process which may require additional funding. According to various reports, its spending varies between £44 billion and £88 billion. Although Department of Brexit Secretary David Davis said: “We will not pay €100 billion. » The British referendum shows that the majority of British citizens were unhappy with being members of the European Union. Some politicians believe that this was because the UK had imperialist views towards Europe and they did not want to be a regular member but a leading state in the region. Everyone agrees that Brexit is one of the most important, indeed vital, events in the history of the United Kingdom. With this event, however, it somehow loses the connection with other countries in Europe. There is strong consensus among economists in existing economic research that this is likely to reduce the UK's real per capita income in the medium to long term. Studies of the effects already materialized since the referendum show annual losses of £404 for the average British household and a loss of 1.3% of British GDP. Another influence that Brexit could have on Britain is that it may make it difficult for ordinary citizens to travel to European countries, but as long as they have the Shenzhen visa, this could pose no problem. Keep in mind: this is just a sample. .Get a personalized essay now from our expert writers.Get a personalized essayEven after Brexit, the United Kingdom will remain a democratic and free country that represents a. 2019.