Brexit is the abbreviation for “ British Exit “ from European Union (EU)
What Is Brexit
British-Exit took place when a referendum was held on 23 June 2016 in which 52% of people voted to leave EU and 48% were in favor to remain in EU. Prime Minister David Cameron who personally wants to be remain in EU resigned on 13 July citing this “I do not thing it would be right for to try to be the captain who steers our country to its next destination” he said. After him Theresa May took ought and became Prime Minster (PM) of the Great Britain.
Pound instead of Euro
The supporter of the Brexit based their opinions on different factors, from the global competitiveness of British business to the EU debt crisis. British had already opted out of EU currency and they are using Pound instead of Euro. The support for the Brexit varied overtime, but the referendum on 23 June proved that the Great Britain can survive without any support. Moreover they express to the world that they can run their economy, trade and all other business alone and they do not need any assistance from EU.
EU had affected their sovereignty and United Kingdom (UK) had free border with all their ally countries
Furthermore many of native of Great Britain believed that the alliances with EU had affected their sovereignty and United Kingdom (UK) had free border with all their ally countries which affected their inner sovereignty, people said. But after exiting from EU, Great Britain will no longer have to accept the free movement of people and goods through their borders which are attached with EU member countries.
Theresa May now regret on their decision because of some economic and social problem the Great Britain is facing now after leaving the EU. Because now she realizes that it was a hard decision they took, she said. because EU is the single largest market in the world and no one is insane to leave that kind of large market.