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 The EU referendum exposed signifi- cant divisions within the United King- dom, as every region of the country except Scotland, Northern Ireland, and London voted to leave.
Credit: Grop/shutterstock.com
GLOSSARY
BREXIT ...
Brexit: The catchy portmanteau that stands for “British exit” from the European Union (EU) was coined in 2012 by independent pan-European media network EURAC- TIV.
Hard Brexit: The worst fear of many onlookers, a hard Brexit would involve the UK leaving the EU swift-
ly, possibly without a free trade agreement with the bloc, which would mean resorting to WTO trade rules instead.
Soft Brexit: A soft Brexit would still see the UK with- draw from the EU, but it would continue its member- ship in the European Economic Area and remain a part of the single market, although it would forgo influence over the rules of the single market.
Article 50: Article 50 of the Treaty on European Union was inserted into the EU Treaty by the Lisbon Treaty
in 2009. It allows a member state to leave the EU and
sets out a procedure for doing so. The UK government triggered Article 50 on March 29, 2017.
Single Market: Cited by officials as one of the EU’s greatest achievements, the single market refers to the EU as one territory without any internal borders or oth- er regulatory obstacles to the free movement of goods, capital, services, or labor. It was designed to make it as simple as possible for member states to trade with each other, so, for example, trade can be done be- tween London and Berlin with just as much as ease as it is between London and Manchester, while citizens of EU countries enjoy free movement within the bloc.
The Four Freedoms: In order to be a member of the single market, member states must comply with the EU’s “Four Freedoms”: the free, unlimited movement of goods, services, capital, or people between all 28 member states. These four freedoms are central to the EU’s political mission. The free movement of people has been the most politically contentious of the four, as it has resulted in migration within the bloc to west- ern EU states like the UK.
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