NEWS

Brexit to leave or not to leave?

27361474806_772e2a20ea_zTo leave or not to leave the EU? That is the question that citizens of the United Kingdom will have to answer in the EU referendum on 23rd June. In the opening plenary of the European Business Summit 2016, Sir Martin Sorrell made the case for ‘Bremain’.

In his Bloomberg speech of 23rd January 2013, UK Prime Minister David Cameron called for fundamental reform of the EU to deliver prosperity. For the UK, membership of the EU is primarily about access to the Single Market ; by opting-out of ‘ever closer union’, the UK hopes it can continue to build on the trade arrangements of the European project, while moving away from political union.

On 19th February the UK negotiated a new settlement with the EU; the settlement concerned the UK’s relationship with the Eurozone area, a commitment to better regulation and greater competitiveness, strengthened sovereignty and tighter controls on EU migrations including to ‘non-contributory’ in work benefits.

On 23rd June, the UK will vote on whether to stay in the EU or to leave. The ‘Remain’ side has a significant lead in the polls, but with three weeks to go before polling day there is still time for the ‘Leave’ side to make gains.

A ‘Leave’ vote will bring seismic changes to the UK and could have damaging and unforeseen economic and political consequences for other EU countries, both from an economic and political perspective.

European Buiseness Summit

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