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  • Voters in the United Kingdom have voted to leave the European Union.

  • "I hope this victory brings down this failed project and leads us to a Europe of sovereign nation state"

  • It’s a major blow to European political and economic integration, and a

  • huge embarrassment for British Prime Minister David Cameron.

  • "Britain is better off inside the EU than out on our own.

  • At the heart of that is the single market. 500 million customers on our doorstep.

  • A source of so many jobs, so much trade, a such a wealth of opportunity for our young people.

  • Britain's exit or the BREXIT, as it's called, will have huge implications for the British economy.

  • The EU functions as a single integrated economy kind of like the United States.

  • And now that Britain is out regulations could make it harder

  • to move goods across the English Channel.

  • Lots of multinational corporations have their headquarters in London, but now

  • they might find that it makes more sense to have their European headquarters in

  • the European Union, which could lead to job losses in Britain. The EU also allows

  • for the free movement of people within its member states, which means that any

  • EU citizen can live and work in any other EU country without a visa.

  • And the UK high employment rate has drawn migrants from poorer countries in the EU

  • like Poland and Lithuania. But many in Britain resent these migrants, and that

  • resentment was a key driving force in the decision of for Britain to leave the European Union.

  • So now that Britain's out, nobody really knows what's going to happen to all those EU migrants.

  • So what comes next? A long negotiation between the UK

  • and the EU member states where they have to hash out issues like trade tariffs

  • agriculture immigration and a whole host of other issues.

  • Nobody really knows what this means for the other EU countriesthey could rally

  • together and push for even more integration, or some countries could look

  • at Britain and say we should get out too. But one thing is clear:

  • Britain's exit is a huge blow to the dream of a united Europe.

Voters in the United Kingdom have voted to leave the European Union.

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B1 INT US Vox eu britain european european union union

Britain is leaving the EU. Here's what that means.

  • 20829 1981
    Angela Yeh   posted on 2016/06/30
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