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  • Britain and the European Union may be in for a messy divorce

  • Britain's exit, or Brexit, from one of the world's most powerful trading blocs

  • will happen if Brits vote to leave in a national referendum on June 23

  • Polls show the Brexit vote could go either way

  • So here's how we got to the situation

  • The camp that wants to leave the EU are the so-called Euroskeptics

  • They kept the UK from adopting the Euro

  • when it was launched in 1999

  • Nowadays, they're more worried about the surge of immigration

  • The UK gets about 500 people added to its population every day

  • Since EU citizens have the freedom to live in any country they choose

  • leaving the bloc is the only sure way to stem the flow of people

  • Arguing "stay in" is Prime Minister David Cameron

  • He negotiated new terms to the UK's EU membership

  • including some reassurances for London's financial industry

  • and the right to restrict welfare payments to migrants

  • He says a breakup would be an economic disaster

  • Europe accounts for nearly half of the UK exports

  • and he says a Brexit would create a decade of uncertainty

  • for financial markets, investments, and the wider economy

  • The debate is whiplashing markets

  • and send the pound tumbling

  • Now, here's the argument

  • Those pushing for a Brexit say the EU has morphed from a free trade zone

  • into a super state that's eating away Britain's national sovereignty

  • The vote will likely come down to two issues

  • The economic risks of an exit versus concern about a flow of immigrants

  • that can't be stopped

  • Whichever way the vote goes

  • Britain's long love-hate relationship with the EU

  • will rumble on

Britain and the European Union may be in for a messy divorce

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The Brexit Debate Explained in 2 Minutes

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    Kristi Yang posted on 2016/06/28
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