Brexit is an abbreviation for “British exit” that mirrors the term Grexit, which refers to the possibility of the Britain’s withdrawal from the European Union. Great Britain, which has never adopted the euro currency, wants to withdrawal from the policies stipulated by the European Union and consequently from the European treaties and agreements .
The idea of Brexit began to spread after the arrival of David Cameron in government and was later approved also by Queen Elizabeth in a speech to the Bank of England for the establishment of the newly elected Parliament.
The Central Bank of England has compiled a document on the economic and financial implications of Brexit which, however, does not seem to be encouraging for Britain: including great losses on both the front commercial trade with European Union countries on the level on investment. Besides this formal evaluation, the independent “think-tank” called Open Europe established a “Brexit barometer” to calculate the likelihood of the exit of the UK from the European Union block.
In June 2015 there was one chance in six that Britain will leave the EU: 19% chance.
Agreement or compromise?
The agreement last night between Europe and Britain is not convincing. Is there anyone who is allied with the skepticism that has always distinguished the British island in its relations with the rest of Europe? So the fear – or suspect – of Brexit has not disappeared in everyone’s head. Some speak of a simple “compromise” even more than a real agreement. This opinion, at least, is the one reported in the British press, which precisely is said to be skeptical.
The opinion of the British newspapers between skepticism and stances
The major newspapers in Britain are quite cautious to archive the Brexit matter, and just the Financial Times and the Independent label this last step in the relations with Europe with the slightly provocative word “compromise”. In short, nothing definitive for British journalists, documenting the deal with a certain eagerness.
The exit of Britain from Europe? Maybe yes. Maybe not. We are currently watching. This is the kind of sensation that you feel in the City, in the aftermath of the signature of the agreement. The British prime minister, David Cameron, had to compromise to get the agreement. Now he awaits Britain’s final choice.
Meanwhile Brexit scares inside and outside the country, and the same international economy has already suffered the first setbacks from this policy of uncertainty. Michael Gove, Secretary of State for Justice, has already expressed himself in favour of an exit of the country from the European Union. And so, in the aftermath of the agreement, Britain is deeply divided.
The Telegraph suggests a future increase of dissidents in parliament, and among them there are already the name of Theresa May, the current interior minister pertaining to the Conservative Party and Boris Johnson, Mayor of London. The Mail and the Sun, meanwhile, have catalyzed the Pro-Brexit views, while the Mirror is the stronghold of the skeptics and the Daily Express sees in Michael Gove the man of the moment, who will steer the country out of Europe, and thus realising the dream of those who today see Brexit as the future of Britain.
So while the British press is uncertain and pulls down the first predictions “pre-match”, David Cameron met his cabinet to discuss their new special status and how to regulate relations with Europe. Just to give a bit of history: it is the first governmental meeting convened on Saturday since the war in the Falklands (1982). Meanwhile Prime Minister Cameron announced that the referendum date will be on June 23.
“We need reforms,” said David Cameron, “Britain needs to deal with a reformed Europe. And who is asking for Brexit, will have to understand that an exit of the country from Europe would hurt the economy and UK’s security”.
Now we can only wait, knowing well that the public opinion and the British tabloids continue to question what will be the future of Britain. Obviously the suspicion of a Brexit does not affect only the citizens of Her Majesty. Europe will not remain on one side waiting for a response.