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Title “BREXIT: POLITICO-ECONOMIC CHALLENGES FOR THE EUROPEAN UNION”

Author(s) Faheem Hussain

Abstract ABSTRACT Thesis Title: Brexit: Politico-Economic Challenges for the European Union In history of the European Union, the exiting of Britain from the EU is considered as a serious prospect of a member state. As it was already decided by the UK, that Brexit would only happen if majority of people vote to leave the EU in a referendum. Right after World War II the economic and cultural changes were growing in terms of globalization. In that time period, the European Union was very much flourishing in political integration. Brexit marks a departure from this trend. Here as per the UK to leave the European Union means to extract itself from the supranational political institutions. On 31st January 2020, the UK formally left the EU. Although the UK has decided the terms of its EU withdrawal but there is still a lot to talk about their future relationship will look like as months of negotiations to come. During the transition period this will need to be worked out because soon after Brexit day it directly began and this time period ends on 31st December 2020.Still the national interests of British regarding stability, security and prosperity will be remaining on the top priority. But here it just not only about the UK exits from the EU, but it will further be having some serious political as well as economic consequences, not only for the UK but for the EU as well. In the light of Complex interdependence that involves the possibility that states are woven in a spider web can no longer work in isolation and need to communicate with one another in all political, economic, social just as military circles, the Brexit is remarkable both nationally and universally. From one viewpoint the world is concentrating on coordinated effort and political, economic, social integration through various multilateral stages, there are no such instances of withdrawal like Brexit. The theory of Complex Interdependence is appropriate regarding the underlying problem and best explains the issue as it talks about interdependence and integration. The research design use to conduct this study is qualitative in nature. Both primary and secondary sources are used for data collection. As the UK had playing the major role in the EU membership therefore its withdrawal would have been serious repercussions not only on the EU but for the UK also. Brexit could lead towards genuine political and economic ramifications for both the EU and the UK even a few researchers contend that it will additionally break down, however in the period of globalization and interdependence both will discover that seclusion or crumbling is certifiably not a decent system to manage developing complex economic, political and social threats. Thus, keeping these factors in consideration EU and UK will ultimately revise their policies and will find new cooperative means and inland partnership to make a continental bloc.

Type Thesis/Dissertation

Faculty Social Sciences

Department International Relations

Language English

Publication Date 2020-06-17

Subject BREXIT

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