Brexit:
The departure of Britain from the European Union will cause major disruptions in the economic activities in both Britain and the European Union. This separation will create less favorable trade relations between Britain and the EU as well as other foreign countries. For example, rules and regulations around imports and exports will have to be renegotiated between Britain and the EU and new tariffs will cause prices of goods to rise for both sides. Also, Britain joined the World Trade Organization as a part of the EU, However, now that their political position is changing, Britain will have to leave the WTO and then try to re-enter as Britain. This will take time and will greatly affect trade around the world.
Unemployment:
Unemployment in Western Europe is currently very high. The lack of job opportunities, especially for young adults 25 and under, causes the employment rate to decrease, therefore slowing down the economy in Western Europe. For example, in France about three million people are unemployed (10.2% of the workforce). The fact that there is so much unemployment going around in France has caused their economy to slow down and suffer. The people that are jobless are suffering as well because they don’t have a way of earning money to provide for themselves and possibly their families.
Immigration:
Immigration in the European Union is complex because there are so many different opinions on it, people need it politically, but don’t want it socially, and so on. The European Union contains approximately about 12% of all immigrants. While Europe needs these immigrants to further the economy and do more low-profile jobs, there are many social issues with the policies placed on immigration. For example, one of the reasons for Brexit is Britain doesn’t agree with the EU’s immigration policies. With these policies and a multitude of other reasons, Britain left the EU which therefore caused many more economic issues for Western Europe.
The departure of Britain from the European Union will cause major disruptions in the economic activities in both Britain and the European Union. This separation will create less favorable trade relations between Britain and the EU as well as other foreign countries. For example, rules and regulations around imports and exports will have to be renegotiated between Britain and the EU and new tariffs will cause prices of goods to rise for both sides. Also, Britain joined the World Trade Organization as a part of the EU, However, now that their political position is changing, Britain will have to leave the WTO and then try to re-enter as Britain. This will take time and will greatly affect trade around the world.
Unemployment:
Unemployment in Western Europe is currently very high. The lack of job opportunities, especially for young adults 25 and under, causes the employment rate to decrease, therefore slowing down the economy in Western Europe. For example, in France about three million people are unemployed (10.2% of the workforce). The fact that there is so much unemployment going around in France has caused their economy to slow down and suffer. The people that are jobless are suffering as well because they don’t have a way of earning money to provide for themselves and possibly their families.
Immigration:
Immigration in the European Union is complex because there are so many different opinions on it, people need it politically, but don’t want it socially, and so on. The European Union contains approximately about 12% of all immigrants. While Europe needs these immigrants to further the economy and do more low-profile jobs, there are many social issues with the policies placed on immigration. For example, one of the reasons for Brexit is Britain doesn’t agree with the EU’s immigration policies. With these policies and a multitude of other reasons, Britain left the EU which therefore caused many more economic issues for Western Europe.