Question

1. The UK was a member of the Eurozone monetary union but has its own currency (the Pound Sterling). Briefly discuss the advantages and limitations of the UK as a member of the Eurozone monetary union with its own currency. Explain whether UK’s unique situation facilitate its exit from the European union compared to other member countries. (Use the internet to search for information on UK and the European Union).

Answer 1

Britain exit from European union that is is brexit despite use remove the final existing process did not create the credit goes to the withdrawal agreement that was negotiated between European union andthe credit goes to the withdrawal agreement that was negotiated between European union and United Kingdom in 2019. Under withdrawal agreement transition period of 11 month has finish until December 2020. However it might get delayed until 2022 to 2023.during this period the UK will continue to participate in European union custom union and in the single market.the UK will apply European union law even if it is no longer a member state and will also continue to abide by the international agreement of the European union.

it was a long awaited history move which will bring an important change in the policies and politics of the remaining 27 European union members state and the United Kingdom mainly.it becomes important to see how this will shift the policy making process and what are the way in which nations are going to tackle it.

Impact on United Kingdom and European union of brexit:-
by leaving the European union the UK automatically mechanically legally leaves hundreds of international agreements concluded by or on behalf of European union to the benefit of its member states on topics as different as trade, aviation fisheries for civil nuclear cooperation.

however with just 11 month to negotiation there are only chance of very basic and minimal deals covering trade fisheries and security.

in that case at the end of 2020 differing aspirations for the trade talks might raise the prospect of a new no deal scenario.in the absence of a deal the earlier Accord on citizens right money and the Irish border will remain intact.
European union and eid-ul both of them will have to be ready for the economic shift in trading on World Trade organisation terms.
The first priority is the trade deal to ensure the tariff and quota free flow of goods between the European union and United Kingdom. Negotiations clash over the European union's refusal to bring services into the trade.

even the non trade subject will be full of political troubles because the European union member state will have to change their policies according to the new deal and the regulations.