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Editorial Today – India and the Brexit forecast

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What is Brexit? It’s a short form for Britain exiting the European Union.

What is a referendum? A referendum is basically a vote in which everyone (or nearly everyone) of voting age can take part.

What is the EU? France and Germany, which had suffered terribly, decided to cooperate with each other so that they would not have to go to war again.

What does the EU do? The idea is to make it easier for Europeans to interact with each other.

Why does Britain want to leave the EU? Many people in Britain believe that EU is making inroads into British sovereignty.

What is India’s view on exit? India has refrained from officially commenting on referendum.

Stakes for India UK’s trade with India is part of what is known as an EU competence.

What is EU competence? The competences of the EU are divided into three categories.

Concerns of India of its outcome India remains deeply vested in the outcome of the referendum for two reasons.

Impact on Industry and border-free access Indian industry in the U.K. is thriving.

Impact on visa Work-related visa restrictions have already resulted in a fall in the number of Indian students.

 

What is Brexit?

  • A referendum is going to be held on Thursday, 23 June, to decide whether Britain should leave or remain in the European Union.
  • It’s a short form for Britain exiting the European Union (EU) i.e. Britain + Exit= Brexit

 

What is a referendum?

  • A referendum is basically a vote in which everyone (or nearly everyone) of voting age can take part, normally giving a “Yes” or “No” answer to a question. Whichever side gets more than half of all votes cast is considered to have won.

 

What is the EU?

  • The ravages of World War II led to an intense desire for peace in Europe.
  •  France and Germany, which had suffered terribly, decided to cooperate with each other so that they would not have to go to war again. This led to other nations joining them. In 1950, six countries decided to share their coal and steel resources. In 1957, the European Economic Community was formed.
  • Slowly, this grew into the European Union. Today, the EU has 28 member states. The first six countries were Belgium, France, Germany, Italy, Luxembourg and Netherlands. Croatia was the last to join in 2013. Britain joined the EU in 1973.
  • As far as people in these countries are concerned, the EU is like a single country where transport of goods, services and people are concerned.
  • The EU has its own currency — the Euro (€).
  • The EU is managed by four institutions: the European Commission, the European Parliament, the European Council and the Court of Justice.

 

What does the EU do?

  • Basically, the idea is to make it easier for Europeans to interact with each other. Citizens of the member countries can travel to and in other member countries without a passport or checks at the border.
  • Because of the single currency, if goods are cheaper in another country, they can buy there as long as it is for their personal use.
  •  Food safety and customer protection rules are common across member states, as are things like mobile data charges and internet access.
  • Citizens can decide live, work, study in any of the EU member states.
  • The EU’s stringent environmental and social justice rules also apply across the member states.

 

Why does Britain want to leave the EU?</